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 d)

SpaceX (and many other tech giants) are buying helium like crazy. And that’s because the world is running out of this incredibly precious gas! Indeed, prices have already climbed 160% in recent years …

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.

Featured article: What is the impact of upfront charges on an investment?

This instant news alert was powered by storytelling technology and financial data from MarketBeat to provide readers with the fastest, most accurate reports. This story was reviewed by the MarketBeat editorial team before publication. Please send any questions or comments about this story to [email protected]

Should you invest $ 1,000 in Forte Biosciences right now?

Before you consider Forte Biosciences, you’ll want to hear this.

MarketBeat tracks Wall Street’s top-rated and top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts quietly whisper to their clients to buy now before the broader market takes hold of … and Forte Biosciences was not on the list.

While Forte Biosciences currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better bets.

See the 5 actions here


Source link

Comments are closed.