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

by · The Cerbat Gem

Forte Biosciences, Inc. (NASDAQ:FBRX – Get Free Report) was the target of a significant increase in short interest in November. As of November 15th, there was short interest totalling 3,400 shares, an increase of 240.0% from the October 31st total of 1,000 shares. Approximately 0.3% of the company’s stock are sold short. Based on an average daily trading volume, of 496,000 shares, the days-to-cover ratio is currently 0.0 days.

Forte Biosciences Price Performance

Forte Biosciences stock traded up $3.11 during trading hours on Thursday, hitting $19.79. The company had a trading volume of 278,534 shares, compared to its average volume of 142,696. Forte Biosciences has a one year low of $4.11 and a one year high of $23.36. The firm has a 50-day moving average of $6.54 and a 200 day moving average of $3.08. The firm has a market cap of $28.93 million, a PE ratio of -1.21 and a beta of 0.04.

Analyst Ratings Changes

Separately, Chardan Capital lifted their price objective 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.

Get Our Latest Analysis on Forte Biosciences

Insider Buying and Selling

In other Forte Biosciences news, CFO Antony A. Riley purchased 22,514 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was bought at an average cost of $5.55 per share, with a total value of $124,952.70. Following the purchase, the chief financial officer now directly owns 30,776 shares of the company’s stock, valued at $170,806.80. The trade was a 272.50 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 9.60% of the stock is 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.

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