TD Cowen Begins Coverage on Forte Biosciences (NASDAQ:FBRX)

TD Cowen initiated coverage on shares of Forte Biosciences (NASDAQ:FBRX) in a research note issued to investors on Tuesday,Briefing.com Automated Import reports. The firm set a “buy” rating on the stock.

Separately, Chardan Capital reiterated 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 Forte Biosciences stock opened at $15.60 on Tuesday. The stock has a market cap of $22.78 million, a price-to-earnings ratio of -0.96 and a beta of 1.13. Forte Biosciences has a 1 year low of $4.11 and a 1 year high of $28.68. The firm’s 50-day moving average is $18.48 and its 200 day moving average is $8.67.

Insider Buying and Selling

In related news, CFO Antony A. Riley acquired 22,514 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were bought at an average price of $5.55 per share, for a total transaction of $124,952.70. Following the completion of the transaction, the chief financial officer now directly owns 30,776 shares in the company, valued at approximately $170,806.80. This trade represents a 272.50 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.10% of the stock is owned by corporate insiders.

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.