Forte Biosciences, Inc. (NASDAQ:FBRX) Short Interest Update

Forte Biosciences, Inc. (NASDAQ:FBRX) was the recipient of a large increase in short interest during the month of October. As of October 15th, there was short interest totalling 4,100 shares, an increase of 24.2% from the September 30th total of 3,300 shares. Approximately 0.3% of the shares of the stock are short sold. Based on an average trading volume of 9,600 shares, the days-to-cover ratio is currently 0.4 days.

Wall Street Analyst Weigh In

Separately, Chardan Capital reaffirmed a “buy” rating and issued a $3.00 target price on shares of Forte Biosciences in a research note on Monday, August 19th.

Forte Biosciences Stock Performance

FBRX stock traded up $0.07 during mid-day trading on Wednesday, hitting $4.65. 16,452 shares of the company were exchanged, compared to its average volume of 3,898. Forte Biosciences has a 1-year low of $4.44 and a 1-year high of $21.25. The firm has a market cap of $6.79 million, a P/E ratio of -0.25 and a beta of 0.01. The firm’s 50 day simple moving average is $5.28 and its 200 day simple moving average is $1.87.

Forte Biosciences (NASDAQ:FBRX) last announced its earnings results on Wednesday, August 14th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.11). On average, equities research analysts predict that Forte Biosciences will post -22.5 EPS for the current fiscal year.

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.