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

Forte Biosciences, Inc. (NASDAQ:FBRX) was the recipient of a large increase in short interest in the month of 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. Approximately 5.6% of the shares of the company are short sold. Based on an average daily volume of 535,300 shares, the short-interest ratio is currently 0.6 days.

Insider Buying and Selling at Forte Biosciences

In other news, CFO Antony A. Riley acquired 22,514 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were bought at an average price of $5.55 per share, with a total value of $124,952.70. Following the acquisition, the chief financial officer now owns 30,776 shares of the company’s stock, valued at $170,806.80. This trade represents a 272.50 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.10% of the company’s stock.

Wall Street Analyst Weigh In

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

Forte Biosciences Stock Performance

Shares of NASDAQ FBRX traded down $0.20 during midday trading on Friday, reaching $15.60. 30,667 shares of the company traded hands, 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’s 50-day simple moving average is $18.27 and its 200-day simple moving average is $8.50. The firm has a market cap of $22.78 million, a PE ratio of -0.96 and a beta of 1.13.

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.