Traders Buy High Volume of Forte Biosciences Call Options (NASDAQ:FBRX)

Forte Biosciences, Inc. (NASDAQ:FBRX) was the recipient of some unusual options trading on Wednesday. Investors acquired 30,205 call options on the stock. This represents an increase of approximately 1,663% compared to the average daily volume of 1,713 call options.

Forte Biosciences Stock Down 0.1 %

Shares of FBRX opened at $5.67 on Thursday. Forte Biosciences has a 1-year low of $4.11 and a 1-year high of $21.25. The firm’s 50-day moving average price is $5.60 and its 200-day moving average price is $2.21.

Forte Biosciences (NASDAQ:FBRX) last released its quarterly earnings results on Wednesday, August 14th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.11). Sell-side analysts anticipate that Forte Biosciences will post -22.5 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Chardan Capital reaffirmed a “buy” rating and set a $3.00 price target on shares of Forte Biosciences in a research report on Monday, August 19th.

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.