The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. 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 $24.7 million following the completion of this transaction.
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Also, Wagner Paul A. purchased 10,520 shares, netting a total of over 7,351 in proceeds. Following the buying of shares at $0.70 each, the insider now holds 1,803,236 shares.
Before that, Wagner Paul A. had added 10,000 shares to its account. In a trade valued at $7,200, the insider bought Forte Biosciences Inc shares for $0.72 each. Upon closing the transaction, the insider’s holdings increased to 10,000 shares, worth approximately $24.57 million.
As published in a research note from Ladenburg Thalmann on April 08, 2024, Forte Biosciences Inc [FBRX] has been rated up from a Neutral to a Buy and the price target has been revised to $2.75. Analysts at Chardan Capital Markets upgraded the stock from ‘”a Sell”‘ to ‘”a Buy”‘ outlook in a report released in mid September. As of September 03, 2021, Truist has decreased its “Buy” rating to a “Hold” for FBRX. Earlier on September 03, 2021, Ladenburg Thalmann downgraded its rating. Their new recommendation was “a Neutral” 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 138.98%. Over the course of the year, Forte Biosciences Inc shares have dropped approximately -34.04%. Shares of the company reached a 52-week high of $21.25 on 01/10/24 and a 52-week low of $4.11 on 11/01/24. A 50-day SMA is recorded $5.57, while a 200-day SMA reached $12.42. Nevertheless, trading volume fell to 29.51 million shares from 2600.0 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 8.62, which, if violated, would cause prices to drop to 3.70. In the upper region, resistance lies at 18.64. The next price resistance is at 23.74. RSI (Relative Strength Index) is 91.22 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.70, which suggests the price will increase in the coming days. Percent R is at 35.78%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
