Trexquant Investment LP Takes Position in Forte Biosciences, Inc. (NASDAQ:FBRX)

Trexquant Investment LP bought a new stake in shares of Forte Biosciences, Inc. (NASDAQ:FBRX) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 7,575 shares of the company’s stock, valued at approximately $255,000.

A number of other hedge funds have also made changes to their positions in the business. Northern Trust Corp increased its holdings in Forte Biosciences by 1.5% during the first quarter. Northern Trust Corp now owns 20,712 shares of the company’s stock valued at $710,000 after buying an additional 304 shares during the last quarter. Lindbrook Capital LLC increased its holdings in Forte Biosciences by 50.0% during the second quarter. Lindbrook Capital LLC now owns 1,500 shares of the company’s stock valued at $50,000 after buying an additional 500 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new stake in Forte Biosciences during the second quarter valued at approximately $30,000. Legal & General Group Plc purchased a new stake in Forte Biosciences during the second quarter valued at approximately $40,000. Finally, Larson Financial Group LLC purchased a new stake in Forte Biosciences during the second quarter valued at approximately $55,000. 61.24% of the stock is owned by institutional investors and hedge funds.

In related news, insider Paul A. Wagner sold 1,000,000 shares of the company’s stock in a transaction on Tuesday, September 7th. The shares were sold at an average price of $4.35, for a total transaction of $4,350,000.00. Following the completion of the transaction, the insider now owns 1,279,049 shares in the company, valued at $5,563,863.15. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 17.80% of the stock is currently owned by corporate insiders.

Shares of NASDAQ:FBRX opened at $2.97 on Thursday. The firm has a fifty day moving average price of $13.51 and a 200 day moving average price of $27.41. Forte Biosciences, Inc. has a fifty-two week low of $2.64 and a fifty-two week high of $43.57. The firm has a market cap of $41.81 million, a price-to-earnings ratio of -0.47 and a beta of 0.75.

Forte Biosciences (NASDAQ:FBRX) last issued its earnings results on Monday, August 16th. The company reported ($0.43) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.40) by ($0.03). Equities research analysts anticipate that Forte Biosciences, Inc. will post -1.44 EPS for the current year.

A number of analysts have commented on the stock. B. Riley cut shares of Forte Biosciences from a “buy” rating to a “neutral” rating in a report on Friday, September 3rd. Brookline Capital Acquisition cut shares of Forte Biosciences from a “buy” rating to a “hold” rating in a research note on Friday, September 3rd. Truist cut shares of Forte Biosciences from a “buy” rating to a “hold” rating in a research note on Friday, September 3rd. LADENBURG THALM/SH SH cut shares of Forte Biosciences from a “buy” rating to a “neutral” rating in a research note on Friday, September 3rd. Finally, Chardan Capital cut shares of Forte Biosciences from a “buy” rating to a “sell” rating in a research note on Friday, September 3rd. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Forte Biosciences currently has an average rating of “Hold” and a consensus target price of $72.50.

Forte Biosciences Company Profile

Forte Biosciences, Inc is a clinical stage biopharmaceutical company focused on dermatology. 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. The company was founded by Paul A.

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Institutional Ownership by Quarter for Forte Biosciences (NASDAQ:FBRX)

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