Forte Biosciences, Inc. (NASDAQ:FBRX) Short Interest Up 240.0% in November

Forte Biosciences, Inc. (NASDAQ:FBRX) was the recipient of a large growth in short interest in November. As of November 15th, there was short interest totalling 3,400 shares, a growth of 240.0% from the October 31st total of 1,000 shares. Based on an average trading volume of 496,000 shares, the short-interest ratio is presently 0.0 days. Currently, 0.3% of the shares of the stock are short sold.

Forte Biosciences Stock Performance

Shares of NASDAQ:FBRX traded up $3.11 during trading on Thursday, reaching $19.79. The stock had a trading volume of 278,534 shares, compared to its average volume of 142,696. The firm’s fifty day moving average is $6.54 and its 200 day moving average is $3.08. Forte Biosciences has a 52 week low of $4.11 and a 52 week high of $23.36. The stock has a market cap of $28.93 million, a price-to-earnings ratio of -1.21 and a beta of 0.04.

Analysts Set New Price Targets

Separately, Chardan Capital lifted their price target on shares of Forte Biosciences from $3.00 to $64.00 and gave the company a “buy” rating in a report on Friday, November 15th.

Insider Buying and Selling at Forte Biosciences

In other news, CFO Antony A. Riley bought 22,514 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now owns 30,776 shares of the company’s stock, valued at $170,806.80. This represents a 272.50 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 9.60% of the company’s stock.

Forte Biosciences Company Profile

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.