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

Forte Biosciences, Inc. (NASDAQ:FBRX) saw some unusual options trading on Wednesday. Stock traders purchased 30,205 call options on the stock. This is an increase of approximately 1,663% compared to the typical volume of 1,713 call options.

Forte Biosciences Stock Performance

FBRX traded down $0.01 during mid-day trading on Friday, reaching $5.57. 11,205 shares of the stock were exchanged, compared to its average volume of 4,489. Forte Biosciences has a 1 year low of $4.11 and a 1 year high of $21.25. The stock has a market capitalization of $8.13 million, a PE ratio of -0.31 and a beta of 0.04. The company has a 50 day moving average price of $5.53 and a two-hundred day moving average price of $2.26.

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

Analysts Set New Price Targets

Separately, Chardan Capital lifted their target price on Forte Biosciences from $3.00 to $64.00 and gave the stock a “buy” rating in a report on Friday.

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.