40,000 Shares in Forte Biosciences, Inc. $FBRX Acquired by 683 Capital Management LLC

683 Capital Management LLC purchased a new position in shares of Forte Biosciences, Inc. (NASDAQ:FBRX) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 40,000 shares of the company’s stock, valued at approximately $1,091,000. 683 Capital Management LLC owned about 0.32% of Forte Biosciences at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in FBRX. Geode Capital Management LLC lifted its holdings in Forte Biosciences by 6.7% during the 2nd quarter. Geode Capital Management LLC now owns 64,110 shares of the company’s stock worth $829,000 after purchasing an additional 4,028 shares during the last quarter. Orbimed Advisors LLC increased its stake in Forte Biosciences by 101.8% during the 2nd quarter. Orbimed Advisors LLC now owns 1,196,955 shares of the company’s stock worth $15,477,000 after acquiring an additional 603,867 shares during the period. Cable Car Capital LP increased its stake in Forte Biosciences by 127.7% during the 2nd quarter. Cable Car Capital LP now owns 500,000 shares of the company’s stock worth $6,465,000 after acquiring an additional 280,396 shares during the period. Adage Capital Partners GP L.L.C. bought a new position in Forte Biosciences during the 2nd quarter worth $4,310,000. Finally, Mink Brook Asset Management LLC bought a new position in Forte Biosciences during the 2nd quarter worth $503,000. 77.63% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on FBRX. Weiss Ratings reiterated a “sell (e+)” rating on shares of Forte Biosciences in a research note on Friday, March 27th. Wall Street Zen raised Forte Biosciences from a “strong sell” rating to a “sell” rating in a report on Monday, May 18th. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $67.00.

Forte Biosciences Stock Up 2.6%

Shares of FBRX stock opened at $17.59 on Thursday. The firm has a market capitalization of $244.33 million, a P/E ratio of -3.79 and a beta of 2.87. Forte Biosciences, Inc. has a twelve month low of $9.10 and a twelve month high of $35.80. The stock’s fifty day simple moving average is $24.06 and its 200 day simple moving average is $26.20.

Forte Biosciences (NASDAQ:FBRX) last issued its quarterly earnings data on Monday, May 11th. The company reported ($1.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.16) by ($0.08). As a group, equities research analysts expect that Forte Biosciences, Inc. will post -4.27 EPS for the current fiscal year.

Forte Biosciences Company Profile

Forte Biosciences, Inc is a clinical-stage biotechnology company focused on developing innovative treatments to restore skin health by targeting the underlying biology of the skin barrier and microbiome. Headquartered in San Diego, California, Forte leverages proprietary platforms to discover and advance topical live biotherapeutic products and skin barrier therapies aimed at addressing serious dermatological conditions.

The company’s lead product candidate, FB-401, is a topical live biotherapeutic formulation designed to rebalance the skin microbiome in patients with atopic dermatitis.