Stock traders buy large volume of call options on Forte Biosciences (NASDAQ: FBRX)
Forte Biosciences, Inc. (NASDAQ: FBRX) was the target of unusual options trading activity on Wednesday. Stock traders acquired 30,205 call options on the company. This represents an increase of 1,663% over the average volume of 1,713 call options.
The NASDAQ FBRX traded up $ 0.04 on Thursday, reaching $ 2.12. The company had a trade volume of 433,733 shares, compared to its average volume of 1,747,113. The company’s fifty-day moving average price is $ 2.67 and its 200-day moving average price is $ 14.79. Forte Biosciences has a 12-month low of $ 1.96 and a 12-month high of $ 7.26.
Forte Biosciences (NASDAQ: FBRX) last announced its results on Thursday, November 18. The company reported ($ 0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($ 0.36) from ($ 0.18). On average, equity analysts expect Forte Biosciences to post EPS of -1.58 for the current fiscal year.
A number of institutional investors and hedge funds have recently changed their positions in the company. BlackRock Inc. increased its stake in Forte Biosciences by 196.2% during the 2nd quarter. BlackRock Inc. now owns 775,119 shares of the company valued at $ 26,059,000 after purchasing an additional 513,450 shares during the last quarter. Point72 Asset Management LP strengthened its position in Forte Biosciences shares by 33.6% during the second quarter. Point72 Asset Management LP now owns 668,449 shares of the company valued at $ 22,473,000 after acquiring an additional 168,249 shares during the last quarter. Vanguard Group Inc. strengthened its position in Forte Biosciences shares by 17.2% during the 2nd quarter. Vanguard Group Inc. now owns 526,518 shares of the company valued at $ 17,701,000 after acquiring an additional 77,225 shares during the last quarter. Woodline Partners LP strengthened its position in Forte Biosciences shares by 1.8% during the second quarter. Woodline Partners LP now owns 193,663 shares of the company valued at $ 6,511,000 after acquiring an additional 3,348 shares during the last quarter. Finally, State Street Corp acquired a new position in shares of Forte Biosciences during the second quarter valued at approximately $ 6,105,000. 69.79% of the shares are currently held by institutional investors.
A number of analysts have recently weighed on the title. LADENBURG THALM / SH SH reduced Forte Biosciences shares from a “buy” rating to a “neutral” rating in a report released on Friday, September 3. Truist Securities downgraded Forte Biosciences shares from a “buy” rating to a “custody” rating in a Friday September 3 research note. Truist reduced Forte Biosciences shares from a “buy” rating to a “hold” rating in a research note on Friday, September 3. Zacks Investment Research downgraded Forte Biosciences shares from a “buy” rating to a “hold” rating in a research note on Friday, November 19. Finally, B. Riley downgraded Forte Biosciences shares from a “buy” rating to a “neutral” rating in a research note on Friday, September 3. One research analyst rated the stock with a sell rating, eight issued a conservation rating, and another assigned a buy rating to the stock. According to MarketBeat.com, Forte Biosciences currently has a consensus rating of “Hold” and an average price target of $ 64.13.
About Forte Biosciences
Forte Biosciences, Inc. is a clinical-stage, dermatology-focused biopharmaceutical company. The company’s flagship product includes FB-401, which is a live biotherapeutic for the treatment of inflammatory skin diseases, including pediatric and adult patients with atopic dermatitis. The company was founded by Paul A.
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