Forte Biosciences, Inc. (NASDAQ:FBRX) Short Interest Up 240.0% in November

Forte Biosciences, Inc. (NASDAQ:FBRX) was the target of a significant increase in short interest in November. As of November 15th, there was short interest totalling 3,400 shares, an increase of 240.0% from the October 31st total of 1,000 shares. Approximately 0.3% of the company’s stock are sold short. Based on an average daily trading volume, of 496,000 shares, the days-to-cover ratio is currently 0.0 days.

Forte Biosciences Price Performance

Forte Biosciences stock traded up $3.11 during trading hours on Thursday, hitting $19.79. The company had a trading volume of 278,534 shares, compared to its average volume of 142,696. Forte Biosciences has a one year low of $4.11 and a one year high of $23.36. The firm has a 50-day moving average of $6.54 and a 200 day moving average of $3.08. The firm has a market cap of $28.93 million, a PE ratio of -1.21 and a beta of 0.04.

Analyst Ratings Changes

Separately, Chardan Capital lifted their price objective on shares of Forte Biosciences from $3.00 to $64.00 and gave the company a “buy” rating in a report on Friday, November 15th.

Insider Buying and Selling

In other Forte Biosciences news, CFO Antony A. Riley purchased 22,514 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was bought at an average cost of $5.55 per share, with a total value of $124,952.70. Following the purchase, the chief financial officer now directly owns 30,776 shares of the company’s stock, valued at $170,806.80. The trade was a 272.50 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 9.60% of the stock is owned by corporate insiders.

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.