Fintel reports that Camac Fund has filed a 13D form with the SEC disclosing ownership of 1.58MM shares of Forte Biosciences Inc (FBRX). This represents 4.3% of the company.
In their previous filing dated August 3, 2023 they reported 1.32MM shares and 3.60% of the company, an increase in shares of 19.77% and an increase in total ownership of 0.70% (calculated as current – previous percent ownership).
Analyst Price Forecast Suggests 331.79% Upside
As of March 27, 2023, the average one-year price target for Forte Biosciences is 3.57. The forecasts range from a low of 3.54 to a high of $3.68. The average price target represents an increase of 331.79% from its latest reported closing price of 0.83.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Forte Biosciences is 0MM. The projected annual non-GAAP EPS is -6.49.
What is the Fund Sentiment?
There are 53 funds or institutions reporting positions in Forte Biosciences. This is unchanged over the last quarter. Average portfolio weight of all funds dedicated to FBRX is 0.03%, an increase of 4.68%. Total shares owned by institutions decreased in the last three months by 9.79% to 3,705K shares. The put/call ratio of FBRX is 0.00, indicating a bullish outlook.
What are Other Shareholders Doing?
BML Capital Management holds 1,735K shares representing 4.78% ownership of the company. No change in the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 487K shares representing 1.34% ownership of the company. No change in the last quarter.
Renaissance Technologies holds 205K shares representing 0.56% ownership of the company. In it’s prior filing, the firm reported owning 214K shares, representing a decrease of 4.25%. The firm increased its portfolio allocation in FBRX by 7.09% over the last quarter.
Geode Capital Management holds 193K shares representing 0.53% ownership of the company. In it’s prior filing, the firm reported owning 193K shares, representing an increase of 0.07%. The firm decreased its portfolio allocation in FBRX by 6.75% over the last quarter.
VEXMX – Vanguard Extended Market Index Fund Investor Shares holds 149K shares representing 0.41% ownership of the company. No change in the last quarter.
Forte Biosciences Background Information
(This description is provided by the company.)
Forte Biosciences, Inc. is a clinical stage, dermatology company developing a live biotherapeutic, FB-401, for the treatment of inflammatory skin diseases. FB-401 has completed Phase 1/2a testing in adult and pediatric (3 years of age and older) patients with atopic dermatitis. There is a significant unmet need for safe and effective therapies particularly for pediatric atopic dermatitis patients. In September 2020, Forte initiated a multi-center, placebo controlled clinical trial of FB-401 which is expected to enroll pediatric, adolescent and adult AD subjects aged 2 years of age and older.
This article originally appeared on Fintel
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