In last trading session, Forte Biosciences Inc (NASDAQ:FBRX) saw 0.39 million shares changing hands with its beta currently measuring 0.56. Company’s recent per share price level of $0.45 trading at $0.06 or 14.39% at ring of the bell on the day assigns it a market valuation of $16.32M. That closing price of FBRX’s stock is at a discount of -186.67% from its 52-week high price of $1.29 and is indicating a premium of 15.56% from its 52-week low price of $0.38. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 31870.0 shares which gives us an average trading volume of 32.06K if we extend that period to 3-months.
For Forte Biosciences Inc (FBRX), analysts’ consensus is at an average recommendation of a Buy while assigning it a mean rating of 1.00. Splitting up the data highlights that, out of 1 analysts covering the stock, 0 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 0 suggested the stock as a Hold whereas 1 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of $0 in the current quarter.
Forte Biosciences Inc (NASDAQ:FBRX) trade information
Upright in the green during last session for gaining 14.39%, in the last five days FBRX remained trading in the green while hitting it’s week-highest on Friday, 11/17/23 when the stock touched $0.45 price level. Forte Biosciences Inc’s shares saw a change of -55.10% in year-to-date performance and have moved 2.09% in past 5-day. Forte Biosciences Inc (NASDAQ:FBRX) showed a performance of -18.36% in past 30-days. Number of shares sold short was 56200.0 shares which calculate 2.48 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of $3.00 to the stock, which implies a rise of 85.0% to its current value. Analysts have been projecting $3.00 as a low price target for the stock while placing it at a high target of $3.00. It follows that stock’s current price would drop -566.67% in reaching the projected high whereas dropping to the targeted low would mean a loss of -566.67% for stock’s current value.
Forte Biosciences Inc (FBRX) estimates and forecasts
Statistics highlight that Forte Biosciences Inc is scoring comparatively lower than the scores of other players of the relevant industry. The company lost -54.37% of value to its shares in past 6 months, showing an annual growth rate of 13.75% while that of industry is 14.80. Apart from that, the company came raising its revenue forecast for fiscal year 2023.
Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of 54.26% during past 5 years.
Forte Biosciences Inc is more likely to be releasing its next quarterly report in December and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
Forte Biosciences Inc (NASDAQ:FBRX)’s Major holders
Insiders are in possession of 19.31% of company’s total shares while institution are holding 36.93 percent of that, with stock having share float percentage of 45.77%. Investors also watch the number of corporate investors in a company very closely, which is 36.93% institutions for Forte Biosciences Inc that are currently holding shares of the company. Bml Capital Management, Llc is the top institutional holder at FBRX for having 1.74 million shares of worth $1.8 million. And as of Jun 29, 2023, it was holding 4.78% of the company’s outstanding shares.
The second largest institutional holder is Vanguard Group Inc, which was holding about 0.66 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 1.83% of outstanding shares, having a total worth of $0.69 million.
On the other hand, Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund are the top two Mutual Funds which own company’s shares. As of Jun 29, 2023, the former fund manager was holding 0.49 million shares of worth $0.51 million or 1.34% of the total outstanding shares. The later fund manager was in possession of 0.15 million shares on Jun 29, 2023, making its stake of worth around $0.16 million in the company or a holder of 0.41% of company’s stock.