Forte Biosciences, Inc. (NASDAQ:FBRX) Short Interest Update

Forte Biosciences, Inc. (NASDAQ:FBRX) was the recipient of a significant growth in short interest in December. As of December 31st, there was short interest totalling 342,900 shares, a growth of 19.9% from the December 15th total of 286,000 shares. Based on an average daily volume of 535,300 shares, the short-interest ratio is currently 0.6 days. Currently, 5.6% of the company’s shares are sold short.

Insider Buying and Selling 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. Insiders own 3.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Chardan Capital reiterated a “buy” rating and set a $64.00 price objective on shares of Forte Biosciences in a report on Wednesday, December 4th.

Forte Biosciences Stock Down 1.3 %

Shares of NASDAQ:FBRX traded down $0.20 during mid-day trading on Friday, reaching $15.60. 30,667 shares of the stock were exchanged, compared to its average volume of 49,121. The stock’s 50 day simple moving average is $18.27 and its 200-day simple moving average is $8.50. Forte Biosciences has a one year low of $4.11 and a one year high of $28.68. The company has a market cap of $22.78 million, a P/E ratio of -0.96 and a beta of 1.13.

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.