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

Posted by John. R. Edwardson on Jan 19th, 2025

Forte Biosciences, Inc. (NASDAQ:FBRX – Get Free Report) saw a significant increase in short interest in 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. Currently, 5.6% of the shares of the stock are sold short. Based on an average daily volume of 535,300 shares, the days-to-cover ratio is currently 0.6 days.

Analysts Set New Price Targets

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.

Read Our Latest Report on Forte Biosciences

Insiders Place Their Bets

In related news, CFO Antony A. Riley purchased 22,514 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were acquired at an average cost of $5.55 per share, with a total value of $124,952.70. Following the completion of the purchase, the chief financial officer now directly 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.10% of the company’s stock.

Forte Biosciences Stock Performance

NASDAQ:FBRX traded down $0.20 on Friday, hitting $15.60. 30,667 shares of the stock were exchanged, compared to its average volume of 49,121. The stock has a market capitalization of $22.78 million, a price-to-earnings ratio of -0.96 and a beta of 1.13. Forte Biosciences has a 52 week low of $4.11 and a 52 week high of $28.68. The company’s 50-day moving average price is $18.27 and its 200 day moving average price is $8.50.

About Forte Biosciences

(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.