Forte Biosciences (NASDAQ:FBRX) Coverage Initiated at TD Cowen

Stock analysts at TD Cowen assumed coverage on shares of Forte Biosciences (NASDAQ:FBRX) in a research report issued to clients and investors on Tuesday,Briefing.com Automated Import reports. The firm set a “buy” rating on the stock.

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

Forte Biosciences Stock Down 1.3 %

NASDAQ FBRX opened at $15.60 on Tuesday. The company has a 50-day simple moving average of $18.48 and a two-hundred day simple moving average of $8.67. Forte Biosciences has a 12-month low of $4.11 and a 12-month high of $28.68. The firm has a market cap of $22.78 million, a price-to-earnings ratio of -0.96 and a beta of 1.13.

Insider Buying and Selling at Forte Biosciences

In other 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 price of $5.55 per share, for a total transaction of $124,952.70. Following the acquisition, 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 3.10% 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.