Streetbeat News

FBRX

Forte Biosciences, Inc.

https://www.fortebiorx.com

Industry

Biotechnology

Forte Biosciences, Inc. operates as a clinical-stage biopharmaceutical company in the United States. It is developing FB-102 program that addresses various autoimmune diseases, such as vitiligo and alopecia areata. The company is headquartered in Dallas, Texas.

Open

5.94

Mkt cap

37M

Volume

39K

High

6.04

P/E Ratio

-0.35

52-wk high

28.68

Low

5.74

Div yield

N/A

52-wk low

4.11

Forte Biosciences reported a Q1 2024 GAAP EPS of $(0.32), missing the consensus estimate of $(0.17) by 88.24%.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 8:22 pm

Ladenburg Thalmann analyst Michael Higgins upgrades Forte Biosciences (FBRX) from Neutral to Buy and sets a price target of $2.75.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 9:36 pm

Forte Biosciences, Inc. reported an increase in its 2023 EPS loss to $(1.00) from $(0.80) YoY. R&D expenses rose to $21.9 million, driven by manufacturing, preclinical, and clinical expenses, notably for the FB-102 program. G&A expenses also increased to $10.6 million due to higher professional and legal costs. The company ended the year with $37.1 million in cash and 36.3 million shares outstanding.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 8:13 pm

Funicular Funds reported in an amended 13D filing that Forte Biosciences filed a legal action against Jacob Ma-Weaver and Funicular Funds on Oct 28, 2023. Funicular Funds, which holds a 5.59% stake in Forte Biosciences, believes the allegations are baseless and without merit.

Portfolio Pulse from Charles Gross

January 09, 2024 | 11:20 am

In Friday's after-market session, several healthcare stocks experienced significant movements. Alaunos Therapeutics (TCRT) led the gainers with a 20.9% increase, while Minerva Surgical (UTRS) headed the losers with a 13.1% decline. Other notable movers included Impel Pharmaceuticals (IMPL), I-MAB (IMAB), Genprex (GNPX), and Adaptimmune Therapeutics (ADAP) with gains, and Procaps Gr (PROC), Virpax Pharmaceuticals (VRPX), Asensus Surgical (ASXC), Intensity Therapeutics (INTS), and Forte Biosciences (FBRX) with losses.

Portfolio Pulse from Benzinga Insights

December 15, 2023 | 9:31 pm

Insiders at OLB Group, Research Frontiers, Sadot Group, and Forte Biosciences have recently purchased shares of their respective companies, signaling potential confidence in their future prospects. These transactions are notable as they involve penny stocks, which are generally considered higher risk investments. OLB Group's CEO acquired shares at $0.75 each, Research Frontiers' director at $0.97, Sadot Group's director at $0.40, and Forte Biosciences' director at $0.65.

Portfolio Pulse from Avi Kapoor

December 13, 2023 | 1:29 pm

Insiders at four companies have recently made notable purchases of their own company's stock, indicating potential confidence in their respective companies' prospects. Forte Biosciences Director Paul A Wagner bought 51,203 shares at $0.60 each. CommScope Holding SVP & President Koen Linde Ter acquired 13,513 shares at $1.84 each. RiskOn International 10% owner Milton C. Ault III purchased 2,000 shares at $0.21 each. Erasca Director Harding Denise Valerie Start bought 10,000 shares at $1.85 each. These transactions can be a factor for investors considering penny stocks.

Portfolio Pulse from Avi Kapoor

December 11, 2023 | 1:34 pm

Insiders at Beasley Broadcast Group, Vintage Wine Estates, Forte Biosciences, and ClearOne have recently purchased shares of their respective companies, all priced under $1. Beasley Broadcast Group CEO Caroline Beasley bought 14,285 shares at $0.73 each, while Vintage Wine Estates Director Jonathan Sebastiani acquired 11,874 shares at $0.54 each. Forte Biosciences Director Paul A Wagner purchased 7,366 shares at $0.44, and ClearOne 10% owner Edward D Bagley bought 11,700 shares at $0.77. These transactions may indicate insider confidence despite recent financial setbacks such as wider quarterly losses or declining sales reported by these companies.

Portfolio Pulse from Lisa Levin

November 24, 2023 | 11:38 am

In Monday's after-market session, several healthcare stocks experienced significant movements. NGM Biopharmaceuticals (NGM) saw an 11.5% increase, while TC BioPharm (TCBP) rose by 11.24%. Nemaura Medical (NMRD), Exagen (XGN), NanoVibronix (NAOV), and Allarity Therapeutics (ALLR) also posted gains. Conversely, Alzamend Neuro (ALZN) dropped by 19.4%, Gain Therapeutics (GANX) fell by 16.37%, Acutus Medical (AFIB) declined by 16.04%, AVITA Medical (RCEL) decreased by 11.2%, Vicarious Surgical (RBOT) went down by 10.67%, and Forte Biosciences (FBRX) fell by 9.77%.

Portfolio Pulse from Benzinga Insights

November 20, 2023 | 9:31 pm

In Friday's after-market session, several healthcare stocks experienced significant movements. Forte Biosciences (FBRX) saw an 11.8% increase, while Telesis Bio (TBIO) rose by 10.81%. AcelRx Pharmaceuticals (ACRX), DermTech (DMTK), Renalytix (RNLX), and IN8bio (INAB) also gained. Conversely, Nautilus Biotechnology (NAUT), OpGen (OPGN), Bone Biologics (BBLG), ProSomnus (OSA), Kintara Therapeutics (KTRA), and Altamira Therapeutics (CYTO) declined. The movements were attributed to recent earnings reports and trading volumes.

Portfolio Pulse from Benzinga Insights

November 17, 2023 | 9:31 pm

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