Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Forte Biosciences Inc shares valued at $7,525 were purchased by Wagner Paul A. on Dec 18 ’23. At $0.75 per share, Wagner Paul A. acquired 10,000 shares. The insider’s holdings grew to 1,823,236 shares worth approximately $1.28 million following the completion of this transaction.
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Also, Wagner Paul A. purchased 10,000 shares, netting a total of over 7,200 in proceeds. Following the buying of shares at $0.72 each, the insider now holds 1,813,236 shares.
Before that, Wagner Paul A. had added 10,520 shares to its account. In a trade valued at $7,351, the insider bought Forte Biosciences Inc shares for $0.70 each. Upon closing the transaction, the insider’s holdings increased to 10,520 shares, worth approximately $1.26 million.
As published in a research note from Chardan Capital Markets on September 20, 2021, Forte Biosciences Inc [FBRX] has been rated up from a Sell to a Buy and the price target has been revised to $3.50 from $4. Analysts at Truist downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in early September. As of September 03, 2021, Ladenburg Thalmann has decreased its “Buy” rating to a “Neutral” for FBRX. Earlier on September 03, 2021, Chardan Capital Markets downgraded its rating. Their new recommendation was “a Sell” for FBRX stock which previously was a “a Buy”.
Analyzing FBRX Stock Performance
During the last five days, there has been a surge of approximately 0.90%. Over the course of the year, Forte Biosciences Inc shares have dropped approximately -15.27%. Shares of the company reached a 52-week high of $0.8500 on 01/10/24 and a 52-week low of $0.4400 on 02/05/24. A 50-day SMA is recorded $0.6767, while a 200-day SMA reached $0.7347. Nevertheless, trading volume fell to 52347.0 shares from 5100.0 shares the previous day.
Support And Resistance Levels for Forte Biosciences Inc (FBRX)
According to the 24-hour chart, there is a support level at 0.6653, which, if violated, would cause prices to drop to 0.6343. In the upper region, resistance lies at 0.7336. The next price resistance is at 0.7709. RSI (Relative Strength Index) is 51.52 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.0216, which suggests the price will decrease in the coming days. Percent R is at 46.12%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Forte Biosciences Inc subject to short interest?
Stocks of Forte Biosciences Inc saw a sharp steep in short interest on Mar 15, 2024 dropping by 38220.0 shares to 42180.0. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 80400.0 shares. A decline of -90.61% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.02 of the overall float, the days-to-cover ratio (short ratio) decline to 1.02.
