Forte Biosciences (NASDAQ:FBRX) Rating Increased to Sell at Wall Street Zen

Forte Biosciences (NASDAQ:FBRX) was upgraded by stock analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a report issued on Sunday.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Forte Biosciences in a research note on Wednesday. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Forte Biosciences presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

Forte Biosciences Stock Performance

Shares of FBRX stock traded up $7.22 on Friday, reaching $43.92. The stock had a trading volume of 3,182,874 shares, compared to its average volume of 640,867. Forte Biosciences has a 1 year low of $9.10 and a 1 year high of $45.36. The stock has a market cap of $610.05 million, a P/E ratio of -9.47 and a beta of 2.85. The company has a 50 day simple moving average of $21.35 and a 200 day simple moving average of $26.25.

Forte Biosciences (NASDAQ:FBRX) last posted its quarterly earnings data on Monday, May 11th. The company reported ($1.24) EPS for the quarter, missing analysts’ consensus estimates of ($1.16) by ($0.08). On average, equities research analysts anticipate that Forte Biosciences will post -4.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Forte Biosciences

A number of hedge funds have recently modified their holdings of FBRX. Global Retirement Partners LLC bought a new position in Forte Biosciences in the 4th quarter worth $27,000. Bank of America Corp DE grew its holdings in Forte Biosciences by 5,641.8% during the third quarter. Bank of America Corp DE now owns 3,158 shares of the company’s stock valued at $47,000 after purchasing an additional 3,103 shares during the period. Dimensional Fund Advisors LP purchased a new stake in Forte Biosciences in the third quarter worth about $161,000. Jane Street Group LLC purchased a new stake in Forte Biosciences in the fourth quarter worth about $228,000. Finally, Citadel Advisors LLC bought a new position in shares of Forte Biosciences in the third quarter worth about $234,000. Institutional investors own 77.63% of the company’s stock.

Trending Headlines about Forte Biosciences

Here are the key news stories impacting Forte Biosciences this week:

• Positive Sentiment: FB102 delivered statistically significant improvement in vitiligo in a placebo-controlled Phase 1b study, with early signs of benefit and favorable safety data. FB102 Achieves Statistically Significant Improvement in Vitiligo at Week 24 After Completion of 12-Week Treatment Period
• Positive Sentiment: Early-stage results are convincing investors that FB102 could be a broader autoimmune platform, not just a single-indication drug, which raises the longer-term commercial opportunity. Forte Biosciences: FB102 Is Becoming A Platform Story, Not A Single-Indication Bet
• Positive Sentiment: Media reports highlighted a major jump in the share price after the trial update, reflecting heavy speculative demand around the data readout. Forte Biosciences shares surge after positive phase 1b vitiligo results
• Neutral Sentiment: The company’s cash position appears strong enough to fund development for multiple quarters, which supports execution but is not an immediate catalyst on its own. Forte Biosciences: FB102 Is Becoming A Platform Story, Not A Single-Indication Bet

Forte Biosciences Company Profile

Forte Biosciences, Inc is a clinical-stage biotechnology company focused on developing innovative treatments to restore skin health by targeting the underlying biology of the skin barrier and microbiome. Headquartered in San Diego, California, Forte leverages proprietary platforms to discover and advance topical live biotherapeutic products and skin barrier therapies aimed at addressing serious dermatological conditions.

The company’s lead product candidate, FB-401, is a topical live biotherapeutic formulation designed to rebalance the skin microbiome in patients with atopic dermatitis.