Forte Biosciences, Inc. (NASDAQ:FBRX) Sees Significant Increase in Short Interest

Forte Biosciences, Inc. (NASDAQ:FBRX) was the recipient of a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 3,400 shares, a growth of 240.0% from the October 31st total of 1,000 shares. Currently, 0.3% of the shares of the company are short sold. Based on an average daily trading volume, of 496,000 shares, the days-to-cover ratio is presently 0.0 days.

Insider Transactions at Forte Biosciences

In other Forte Biosciences news, CFO Antony A. Riley bought 22,514 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was purchased at an average price of $5.55 per share, for a total transaction of $124,952.70. Following the completion of the transaction, the chief financial officer now owns 30,776 shares of the company’s stock, valued at $170,806.80. This trade represents a 272.50 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 9.60% of the company’s stock.

Forte Biosciences Stock Up 9.7 %

NASDAQ FBRX traded up $1.92 during trading on Friday, hitting $21.71. 163,318 shares of the stock traded hands, compared to its average volume of 142,789. The company has a market capitalization of $31.70 million, a P/E ratio of -1.33 and a beta of 0.04. The firm has a 50-day simple moving average of $7.08 and a 200-day simple moving average of $3.34. Forte Biosciences has a 12-month low of $4.11 and a 12-month high of $23.36.

Wall Street Analysts Forecast Growth

Separately, Chardan Capital increased their target price on Forte Biosciences from $3.00 to $64.00 and gave the stock a “buy” rating in a research 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.