Short Interest in Forte Biosciences, Inc. (NASDAQ:FBRX) Expands By 240.0%

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

Insider Activity at Forte Biosciences

In other Forte Biosciences news, CFO Antony A. Riley acquired 22,514 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was bought at an average price of $5.55 per share, for a total transaction of $124,952.70. Following the purchase, the chief financial officer now owns 30,776 shares in the company, valued at $170,806.80. This represents a 272.50 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 9.60% of the company’s stock.

Forte Biosciences Trading Up 16.8 %

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

Analysts Set New Price Targets

Separately, Chardan Capital upped their target price on shares of Forte Biosciences from $3.00 to $64.00 and gave the company a “buy” rating in a research note on Friday, November 15th.

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.