Forte Biosciences (NASDAQ:FBRX) Rating Reiterated by Chardan Capital

Chardan Capital reiterated their buy rating on shares of Forte Biosciences (NASDAQ:FBRX) in a research note released on Monday, Benzinga reports. Chardan Capital currently has a $3.00 price objective on the stock.

Separately, Brookline Capital Management assumed coverage on Forte Biosciences in a research report on Thursday, May 30th. They set a buy rating and a $4.00 target price for the company.

Forte Biosciences Price Performance

Shares of FBRX opened at $0.33 on Monday. Forte Biosciences has a one year low of $0.28 and a one year high of $0.91. The stock has a market cap of $12.08 million, a price-to-earnings ratio of -0.38 and a beta of 0.09. The company has a 50-day moving average of $0.50 and a two-hundred day moving average of $0.62.

Forte Biosciences (NASDAQ:FBRX) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.11). Analysts anticipate that Forte Biosciences will post -0.59 earnings per share for the current year.

Institutional Investors Weigh In On Forte Biosciences

An institutional investor recently bought a new position in Forte Biosciences stock. Cable Car Capital LLC bought a new stake in Forte Biosciences, Inc. (NASDAQ:FBRX) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,031,987 shares of the company’s stock, valued at approximately $1,670,000. Forte Biosciences accounts for approximately 1.9% of Cable Car Capital LLC’s holdings, making the stock its 18th largest position. Cable Car Capital LLC owned about 5.59% of Forte Biosciences at the end of the most recent reporting period. Hedge funds and other institutional investors own 77.63% of the company’s stock.

About Forte Biosciences

Forte Biosciences, Inc operates as a biopharmaceutical company in the United States. The company is developing FB-102 program that addresses various autoimmune diseases, such as graft-versus-host disease, and vitiligo and alopecia areata. Forte Biosciences, Inc is headquartered in Dallas, Texas.