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

Forte Biosciences, Inc. (NASDAQ:FBRX) was the recipient of a significant 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 daily trading volume, of 496,000 shares, the short-interest ratio is presently 0.0 days. Approximately 0.3% of the shares of the stock are sold short.

Forte Biosciences Stock Performance

Shares of Forte Biosciences stock traded up $2.80 on Wednesday, reaching $19.48. The stock had a trading volume of 44,832 shares, compared to its average volume of 141,642. The business’s 50-day moving average price is $6.28 and its two-hundred day moving average price is $2.96. The stock has a market cap of $28.44 million, a P/E ratio of -1.10 and a beta of 0.04. Forte Biosciences has a fifty-two week low of $4.11 and a fifty-two week high of $21.25.

Wall Street Analyst Weigh In

Separately, Chardan Capital boosted 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

In other news, CFO Antony A. Riley acquired 22,514 shares of the stock in a transaction on Thursday, November 21st. The shares were purchased 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 in the company, valued at approximately $170,806.80. This trade represents a 272.50 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 9.60% of the stock is currently owned by insiders.

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.