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

Forte Biosciences, Inc. (NASDAQ:FBRX – Get Rating) was the target of some unusual options trading on Wednesday. Stock investors purchased 30,205 call options on the company. This represents an increase of 1,663% compared to the average volume of 1,713 call options.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of FBRX. Renaissance Technologies LLC purchased a new stake in shares of Forte Biosciences during the 1st quarter valued at $277,000. Millennium Management LLC purchased a new position in Forte Biosciences in the 2nd quarter worth $77,000. Vanguard Group Inc. raised its stake in Forte Biosciences by 40.4% in the 3rd quarter. Vanguard Group Inc. now owns 647,293 shares of the company’s stock worth $692,000 after acquiring an additional 186,159 shares during the last quarter. Finally, BML Capital Management LLC purchased a new position in Forte Biosciences in the 4th quarter worth $1,461,000. Institutional investors own 45.74% of the company’s stock.

Forte Biosciences Stock Performance

FBRX opened at $1.00 on Thursday. The stock has a market cap of $20.34 million, a price-to-earnings ratio of -1.30 and a beta of 0.64. The stock’s 50 day moving average price is $1.01 and its 200-day moving average price is $1.07. Forte Biosciences has a one year low of $0.90 and a one year high of $1.59.

About Forte Biosciences

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Forte Biosciences, Inc is a biopharmaceutical company, which engages in the provision of dermatology products and services. The firm’s lead product includes FB-401, which is a live biotherapeutic for the treatment of inflammatory skin disease, including pediatric and adult patients with atopic dermatitis.