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

Forte Biosciences, Inc. (NASDAQ:FBRX) saw some unusual options trading activity on Wednesday. Investors acquired 30,205 call options on the stock. This represents an increase of 1,663% compared to the typical volume of 1,713 call options.

Forte Biosciences Price Performance

NASDAQ FBRX opened at $19.44 on Friday. The company has a market cap of $28.42 million, a price-to-earnings ratio of -1.19 and a beta of 1.13. The stock’s fifty day moving average price is $16.90 and its 200 day moving average price is $7.77. Forte Biosciences has a 1 year low of $4.11 and a 1 year high of $28.68.

Insider Buying and Selling at Forte Biosciences

In other Forte Biosciences news, CFO Antony A. Riley purchased 22,514 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was bought at an average cost of $5.55 per share, for a total transaction of $124,952.70. Following the completion of the purchase, the chief financial officer now owns 30,776 shares in the company, valued at $170,806.80. This represents a 272.50 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 9.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Separately, Chardan Capital reiterated a “buy” rating and issued a $64.00 target price on shares of Forte Biosciences in a research note on Wednesday, December 4th.

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.