Traders Purchase Large Volume of Forte Biosciences Call Options (NASDAQ:FBRX)

Forte Biosciences, Inc. (NASDAQ:FBRX) was the target of unusually large options trading on Wednesday. Traders acquired 30,205 call options on the company. This is an increase of 1,663% compared to the average volume of 1,713 call options.

Forte Biosciences Trading Up 1.6 %

Shares of FBRX stock opened at $4.69 on Thursday. The stock has a 50-day moving average of $4.44 and a 200-day moving average of $1.57. Forte Biosciences has a 1-year low of $4.44 and a 1-year high of $21.25. The stock has a market cap of $6.85 million, a price-to-earnings ratio of -0.26 and a beta of 0.01.

Forte Biosciences (NASDAQ:FBRX) last released its earnings results on Wednesday, August 14th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.11). Sell-side analysts forecast that Forte Biosciences will post -22.5 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Chardan Capital reissued a “buy” rating and issued a $3.00 price objective on shares of Forte Biosciences in a research report on Monday, August 19th.

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.