Forte Biosciences Sees Unusually Large Options Volume (NASDAQ:FBRX)

Forte Biosciences, Inc. (NASDAQ:FBRXGet Rating) was the recipient of unusually large options trading on Wednesday. Traders purchased 30,205 call options on the company. This represents an increase of 1,663% compared to the typical volume of 1,713 call options.

Hedge Funds Weigh In On Forte Biosciences

Hedge funds and other institutional investors have recently modified their holdings of the company. Strs Ohio boosted its holdings in Forte Biosciences by 934.6% during the 4th quarter. Strs Ohio now owns 26,900 shares of the company’s stock valued at $57,000 after acquiring an additional 24,300 shares during the period. GSA Capital Partners LLP purchased a new stake in Forte Biosciences during the 1st quarter valued at about $75,000. Finally, Renaissance Technologies LLC purchased a new stake in Forte Biosciences during the 1st quarter valued at about $277,000. 37.11% of the stock is currently owned by hedge funds and other institutional investors.

Forte Biosciences Price Performance

Shares of FBRX traded down $0.01 during midday trading on Thursday, reaching $1.24. The stock had a trading volume of 2,887 shares, compared to its average volume of 274,423. The company’s 50-day moving average is $1.27 and its 200 day moving average is $1.36. Forte Biosciences has a 12-month low of $1.03 and a 12-month high of $5.95.

Forte Biosciences (NASDAQ:FBRXGet Rating) last posted its quarterly earnings data on Monday, May 16th. The company reported ($0.17) earnings per share (EPS) for the quarter. Equities analysts predict that Forte Biosciences will post -0.77 earnings per share for the current fiscal year.

About Forte Biosciences

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Forte Biosciences, Inc operates as a clinical-stage biopharmaceutical company in the United States. It is developing FB-102 program that addresses various autoimmune diseases, such as vitiligo and alopecia areata. The company is headquartered in Dallas, Texas.

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