Forte Biosciences Target of Unusually Large Options Trading (NASDAQ:FBRX)

Forte Biosciences, Inc. (NASDAQ:FBRX) was the target of some unusual options trading activity on Wednesday. Stock traders bought 30,205 call options on the company. This represents an increase of approximately 1,663% compared to the typical volume of 1,713 call options.

Forte Biosciences Trading Up 18.6 %

Shares of NASDAQ FBRX opened at $19.79 on Thursday. The company has a fifty day moving average price of $6.54 and a 200 day moving average price of $3.08. The firm has a market cap of $28.89 million, a PE ratio of -1.21 and a beta of 0.04. Forte Biosciences has a 1-year low of $4.11 and a 1-year high of $23.36.

Insider Activity at Forte Biosciences

In other Forte Biosciences news, CFO Antony A. Riley bought 22,514 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was purchased at an average cost of $5.55 per share, with a total value of $124,952.70. Following the completion of the purchase, the chief financial officer now owns 30,776 shares in the company, valued at approximately $170,806.80. The trade was a 272.50 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 9.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, Chardan Capital lifted their price objective on Forte Biosciences from $3.00 to $64.00 and gave the company a “buy” rating in a report on Friday, November 15th.

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.