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

Forte Biosciences, Inc. (NASDAQ:FBRX) was the recipient of unusually large options trading on Wednesday. Stock investors purchased 30,205 call options on the company. This is an increase of 1,663% compared to the average volume of 1,713 call options.

Analyst Upgrades and Downgrades

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

Insider Transactions at Forte Biosciences

In other news, CFO Antony A. Riley purchased 22,514 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was acquired 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 directly owns 30,776 shares of the company’s stock, valued at approximately $170,806.80. This represents a 272.50 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 9.60% of the company’s stock.

Forte Biosciences Stock Performance

FBRX opened at $19.79 on Friday. Forte Biosciences has a 52 week low of $4.11 and a 52 week high of $23.36. The business has a fifty day simple moving average of $6.79 and a 200-day simple moving average of $3.19.

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.