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 30th, there was short interest totalling 211,200 shares, a growth of 6,111.8% from the November 15th total of 3,400 shares. Approximately 16.5% of the shares of the stock are sold short. Based on an average daily volume of 520,300 shares, the days-to-cover ratio is currently 0.4 days.

Forte Biosciences Stock Performance

Shares of FBRX traded up $0.31 during mid-day trading on Wednesday, reaching $23.82. 94,541 shares of the company’s stock traded hands, compared to its average volume of 143,581. The business’s 50-day moving average price is $9.65 and its 200-day moving average price is $4.59. The stock has a market capitalization of $34.82 million, a P/E ratio of -1.44 and a beta of 1.11. Forte Biosciences has a 12 month low of $4.11 and a 12 month high of $28.68.

Insider Buying and Selling

In other Forte Biosciences news, CFO Antony A. Riley purchased 22,514 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was purchased at an average cost of $5.55 per share, with a total value of $124,952.70. Following the purchase, the chief financial officer now owns 30,776 shares of the company’s stock, valued at approximately $170,806.80. The trade was a 272.50 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 9.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

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.