Forte Biosciences’ (FBRX) “Buy” Rating Reiterated at Chardan Capital

Forte Biosciences (NASDAQ:FBRX)‘s stock had its “buy” rating reiterated by investment analysts at Chardan Capital in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $64.00 price target on the stock. Chardan Capital’s target price would indicate a potential upside of 166.67% from the company’s current price.

Forte Biosciences Stock Performance

NASDAQ FBRX opened at $24.00 on Wednesday. The firm’s fifty day moving average price is $7.75 and its two-hundred day moving average price is $3.72. The stock has a market cap of $35.04 million, a PE ratio of -1.47 and a beta of 1.11. Forte Biosciences has a fifty-two week low of $4.11 and a fifty-two week high of $24.35.

Insiders Place Their Bets

In other Forte Biosciences news, CFO Antony A. Riley bought 22,514 shares of Forte Biosciences stock in a transaction on Thursday, November 21st. The shares were purchased at an average cost of $5.55 per share, with a total value of $124,952.70. Following the acquisition, 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 position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 9.60% of the company’s stock.

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.