Forte Biosciences, Inc. (NASDAQ:FBRX) Short Interest Update

Forte Biosciences, Inc. (NASDAQ:FBRX) was the target of a significant decrease in short interest in February. As of February 15th, there was short interest totalling 28,300 shares, a decrease of 79.0% from the January 31st total of 134,600 shares. Currently, 0.6% of the company’s stock are short sold. Based on an average daily volume of 546,400 shares, the days-to-cover ratio is currently 0.1 days.

Analyst Upgrades and Downgrades

FBRX has been the subject of several analyst reports. TD Cowen initiated coverage on shares of Forte Biosciences in a report on Tuesday, January 21st. They issued a “buy” rating on the stock. Chardan Capital reaffirmed a “buy” rating and set a $64.00 price target on shares of Forte Biosciences in a report on Wednesday, December 4th.

Forte Biosciences Price Performance

Shares of FBRX stock traded down $0.17 during trading hours on Friday, hitting $9.14. The stock had a trading volume of 25,557 shares, compared to its average volume of 36,079. The stock’s 50 day moving average is $15.79 and its 200 day moving average is $11.02. Forte Biosciences has a twelve month low of $4.11 and a twelve month high of $28.68. The firm has a market capitalization of $58.40 million, a PE ratio of -0.56 and a beta of 1.09.

Institutional Investors Weigh In On Forte Biosciences

Several large investors have recently modified their holdings of FBRX. JPMorgan Chase & Co. boosted its holdings in Forte Biosciences by 70,000.0% in the 4th quarter. JPMorgan Chase & Co. now owns 2,103 shares of the company’s stock valued at $48,000 after purchasing an additional 2,100 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Forte Biosciences by 18.3% in the fourth quarter. Geode Capital Management LLC now owns 16,877 shares of the company’s stock valued at $383,000 after buying an additional 2,607 shares in the last quarter. Acuta Capital Partners LLC acquired a new position in Forte Biosciences during the fourth quarter worth $412,000. Boothbay Fund Management LLC acquired a new position in Forte Biosciences during the fourth quarter worth $2,026,000. Finally, Woodline Partners LP purchased a new position in Forte Biosciences in the fourth quarter worth $4,639,000. Hedge funds and other institutional investors own 77.63% of the company’s stock.

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.