Forte Biosciences, Inc. (NASDAQ:FBRX) Short Interest Up 19.9% in December

Posted by Chris Copeland on Jan 19th, 2025

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

Analyst Upgrades and Downgrades

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

Check Out Our Latest Report on Forte Biosciences

Forte Biosciences Trading Down 1.3 %

NASDAQ:FBRX traded down $0.20 on Friday, reaching $15.60. The stock had a trading volume of 30,667 shares, compared to its average volume of 49,121. Forte Biosciences has a 12-month low of $4.11 and a 12-month high of $28.68. The stock has a market cap of $22.78 million, a P/E ratio of -0.96 and a beta of 1.13. The company has a 50-day moving average of $18.27 and a 200 day moving average of $8.50.

Insider Buying and Selling at Forte Biosciences

In related news, CFO Antony A. Riley bought 22,514 shares of the stock in a transaction dated Thursday, November 21st. The stock was acquired at an average price 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.10% of the stock is currently owned by corporate insiders.

Forte Biosciences Company Profile

(Get Free Report)

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.