Wall Street analysts expect that Forte Biosciences, Inc. (NASDAQ:FBRX) will post ($0.29) earnings per share for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Forte Biosciences’ earnings, with the highest EPS estimate coming in at ($0.12) and the lowest estimate coming in at ($0.46). Forte Biosciences posted earnings per share of ($0.46) during the same quarter last year, which indicates a positive year-over-year growth rate of 37%. The company is expected to issue its next earnings results on Monday, November 8th.
On average, analysts expect that Forte Biosciences will report full-year earnings of ($1.44) per share for the current year, with EPS estimates ranging from ($1.62) to ($1.00). For the next fiscal year, analysts expect that the firm will post earnings of ($0.75) per share, with EPS estimates ranging from ($1.09) to ($0.40). Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that cover Forte Biosciences.
Forte Biosciences (NASDAQ:FBRX) last issued its quarterly earnings results on Monday, August 16th. The company reported ($0.43) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.40) by ($0.03).
Shares of NASDAQ FBRX traded down $0.10 during mid-day trading on Friday, reaching $2.87. The company had a trading volume of 19,230 shares, compared to its average volume of 1,768,909. Forte Biosciences has a one year low of $2.64 and a one year high of $43.57. The firm has a market cap of $40.41 million, a price-to-earnings ratio of -0.46 and a beta of 0.75. The business’s 50-day simple moving average is $13.51 and its 200 day simple moving average is $27.41.
In other Forte Biosciences news, insider Paul A. Wagner sold 1,000,000 shares of the company’s stock in a transaction on Tuesday, September 7th. The stock was sold at an average price of $4.35, for a total value of $4,350,000.00. Following the completion of the transaction, the insider now owns 1,279,049 shares in the company, valued at approximately $5,563,863.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 17.80% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the business. Northern Trust Corp raised its holdings in shares of Forte Biosciences by 1.5% in the 1st quarter. Northern Trust Corp now owns 20,712 shares of the company’s stock valued at $710,000 after acquiring an additional 304 shares in the last quarter. Lindbrook Capital LLC raised its holdings in shares of Forte Biosciences by 50.0% in the 2nd quarter. Lindbrook Capital LLC now owns 1,500 shares of the company’s stock valued at $50,000 after acquiring an additional 500 shares in the last quarter. Royal Bank of Canada purchased a new stake in shares of Forte Biosciences in the 2nd quarter valued at about $26,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Forte Biosciences in the 2nd quarter valued at about $30,000. Finally, Legal & General Group Plc bought a new position in shares of Forte Biosciences during the 2nd quarter valued at about $40,000. 61.24% of the stock is currently owned by hedge funds and other institutional investors.
About Forte Biosciences
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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