Forte Biosciences Inc [NASDAQ: FBRX] gained 128.69% or 7.62 points to close at $13.55 with a heavy trading volume of 29506945 shares.
The daily chart for FBRX points out that the company has recorded -9.67% loss over the past six months.
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If we look at the average trading volume of 11.91K shares, FBRX reached to a volume of 29506945 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Forte Biosciences Inc [FBRX]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for FBRX shares is $104.67 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on FBRX stock is a recommendation set at 1.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Ladenburg Thalmann have made an estimate for Forte Biosciences Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on April 08, 2024. While these analysts kept the previous recommendation, Chardan Capital Markets dropped their target price from $4 to $3.50. The new note on the price target was released on September 20, 2021, representing the official price target for Forte Biosciences Inc stock. Previously, the target price had yet another raise to $4, while Truist analysts kept a Hold rating on FBRX stock.
The Average True Range (ATR) for Forte Biosciences Inc is set at 1.32 The Price to Book ratio for the last quarter was 2.11, with the Price to Cash per share for the same quarter was set at 11.19.
Trading performance analysis for FBRX stock
Forte Biosciences Inc [FBRX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 138.98. With this latest performance, FBRX shares gained by 185.26% in over the last four-week period, additionally sinking by -9.67% over the last 6 months – not to mention a rise of 11.16% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for FBRX stock in for the last two-week period is set at 91.22, with the RSI for the last a single of trading hit 95.09, and the three-weeks RSI is set at 85.45 for Forte Biosciences Inc [FBRX]. The present Moving Average for the last 50 days of trading for this stock 5.57, while it was recorded at 7.40 for the last single week of trading, and 12.42 for the last 200 days.
Forte Biosciences Inc [FBRX]: A deeper dive into fundamental analysis
Forte Biosciences Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.06 and a Current Ratio set at 2.06.
An analysis of Institutional ownership at Forte Biosciences Inc [FBRX]
There are presently around $54.05%, or 60.69%% of FBRX stock, in the hands of institutional investors. The top three institutional holders of FBRX stocks are: TYBOURNE CAPITAL MANAGEMENT (HK) LTD with ownership of 3.62 million shares, which is approximately 7.8653%. PERCEPTIVE ADVISORS LLC, holding 3.27 million shares of the stock with an approximate value of $$1.75 million in FBRX stocks shares; and PERCEPTIVE ADVISORS LLC, currently with $$1.6 million in FBRX stock with ownership which is approximately 6.4712%.
