FBRX
Forte Biosciences Inc
NasdaqCMUSDEQUITY
Healthcare
DELAYED
Buy
+30/100
Last price
76.99
■ 0.00 (0.00%)
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Open
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Prev close
76.99
Day high
77.00
Day low
76.96
Volume
1.40M
Market cap
$1.63B
P/E (TTM)
—
52W range
10.11 – 77.20
Free account
3 more panels on FBRX open with an account.
Options chains and analytics, valuation ratios, insider filings, analyst targets and ownership. No card, no trial, nothing to cancel.
Insider net activity
Net shares
0
Net selling
Buy transactions
0
0 shares
Sell transactions
0
—
Net transactions
0
Buys less sells
Sell : buy shares
—
Not enough filings
Insider-held shares
413.05K
Total on file
Insider transactions
| Date | Insider | Action | Shares | Value | Held |
|---|---|---|---|---|---|
| Jul 1, 26 | WAGNER PAUL A Chief Executive Officer |
— | 1.25K | — | Direct |
| Jul 1, 26 | RILEY ANTONY A Chief Financial Officer |
— | 375 | — | Direct |
| Apr 1, 26 | WAGNER PAUL A Chief Executive Officer |
— | 1.25K | — | Direct |
| Apr 1, 26 | RILEY ANTONY A Chief Financial Officer |
— | 375 | — | Direct |
| Dec 31, 25 | WAGNER PAUL A Chief Executive Officer |
— | 1.25K | — | Direct |
| Dec 31, 25 | RILEY ANTONY A Chief Financial Officer |
— | 375 | — | Direct |
| Dec 30, 25 | RILEY ANTONY A Chief Financial Officer |
BUY | 9.68K | $254.83K | Direct |
| Oct 1, 25 | WAGNER PAUL A Chief Executive Officer |
— | 1.25K | — | Direct |
| Oct 1, 25 | RILEY ANTONY A Chief Financial Officer |
— | 375 | — | Direct |
| Jul 1, 25 | WAGNER PAUL A Chief Executive Officer |
— | 1.25K | — | Direct |
| Jul 1, 25 | RILEY ANTONY A Chief Financial Officer |
— | 375 | — | Direct |
| Apr 1, 25 | WAGNER PAUL A Chief Executive Officer |
— | 1.25K | — | Direct |
| Apr 1, 25 | RILEY ANTONY A Chief Financial Officer |
— | 375 | — | Direct |
| Dec 31, 24 | WAGNER PAUL A Chief Executive Officer |
— | 1.25K | — | Direct |
What this is, and what it is not
These are SEC Form 4 filings — officers, directors and 10% owners reporting their own trades in the company's stock. Filing is due within two business days of the transaction, so this lags reality by days, and the provider adds its own lag on top.
A sale is not automatically bearish. Executives sell on scheduled 10b5-1 plans, to cover tax on vesting equity, and to diversify. Purchases with cash are generally the more informative signal, and they are far rarer.
This does not include congressional or senate trading. That comes from STOCK Act disclosures filed with the Senate eFD system and the House Clerk, which this data source does not carry.
Officer and director trades in their own stock, straight from Form 4 filings.
Insider holders
| Name | Relation | Shares held | Latest |
|---|---|---|---|
RILEY ANTONY A |
Chief Financial Officer | 42.60K | Conversion of Exercise of derivative security |
WAGNER PAUL A |
Chief Executive Officer | 85.48K | Conversion of Exercise of derivative security |
Fundamentals
Market cap$1.63B
Enterprise value$1.74B
Revenue (TTM)—
Gross profit—
EBITDA$-94.72M
Net income$-87.94M
EPS (TTM)$-4.57
Free cash flow$-41.29M
Total cash$198.46M
Total debt$0
Book value / share$7.52
Shares outstanding21.23M
Float18.67M
Short % of float7.74%
Dividend yield—
Beta (5Y)2.65
Valuation & profitability ratios
Trailing P/E—
Forward P/E-18.89
PEG ratio—
Price / sales—
Price / book10.24
EV / revenue—
EV / EBITDA-18.38
Gross margin0.00%
Operating margin0.00%
Profit margin0.00%
Return on equity-62.28%
Return on assets-37.79%
Debt / equity—
Current ratio10.01
Fourteen ratios including P/E, PEG, EV/EBITDA, margins and return on equity.
Financial statements
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Total revenue | $0 | $0 | $0 | $0 | — |
| Operating revenue | $0 | $0 | $0 | $0 | — |
| Research & development | $58.25M | $21.19M | $21.86M | $5.59M | +174.8% |
| Selling, general & admin | $12.41M | $15.41M | $10.62M | $8.30M | -19.5% |
| Total operating expense | $70.66M | $36.60M | $32.49M | $13.90M | +93.0% |
| Operating income | -$70.66M | -$36.60M | -$32.49M | -$13.90M | -93.0% |
| Net interest income | $2.71M | $1.31M | $1.12M | $162.00K | +106.6% |
| Pre-tax income | -$68.34M | -$35.48M | -$31.48M | -$13.88M | -92.6% |
| Tax provision | $1.04M | — | — | — | — |
| Net income | -$69.38M | -$35.48M | -$31.48M | -$13.88M | -95.5% |
| Net income to common | -$69.38M | -$35.48M | -$31.48M | -$13.88M | -95.5% |
| Basic EPS | -4.71 | -12.17 | -24.92 | -20.00 | +61.3% |
| Diluted EPS | -4.71 | -12.17 | -24.92 | -20.00 | +61.3% |
| EBIT | -$70.66M | -$36.60M | -$32.49M | -$13.90M | -93.0% |
| EBITDA | -$70.59M | -$36.56M | -$32.48M | -$13.90M | -93.1% |
| Basic shares | 14.72M | 2.92M | 1.26M | 695.34K | +404.7% |
| Diluted shares | 14.72M | 2.92M | 1.26M | 695.34K | +404.7% |
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Cash & equivalents | $76.96M | $22.24M | $11.96M | $41.10M | +246.0% |
| Cash & short-term investments | $76.96M | $58.37M | $37.13M | $41.10M | +31.9% |
| Total current assets | $80.59M | $61.35M | $38.33M | $41.51M | +31.4% |
| Property, plant & equipment | $129.00K | $77.00K | $109.00K | $0 | +67.5% |
| Total assets | $82.78M | $61.56M | $38.98M | $42.00M | +34.5% |
| Total current liabilities | $20.75M | $9.08M | $3.67M | $3.18M | +128.5% |
| Total liabilities | $21.79M | $9.08M | $3.67M | $3.18M | +139.9% |
| Retained earnings | -$223.37M | -$154.00M | -$118.52M | -$87.04M | -45.0% |
| Shareholder equity | $60.99M | $52.48M | $35.31M | $38.82M | +16.2% |
| Working capital | $59.84M | $52.27M | $34.66M | $38.33M | +14.5% |
| Net tangible assets | $60.99M | $52.48M | $35.31M | $38.82M | +16.2% |
| Shares issued | 12.95M | 6.39M | 1.45M | 840.00K | +102.5% |
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Net income | -$69.38M | -$35.48M | -$31.48M | -$13.88M | -95.5% |
| Depreciation & amortisation | $64.00K | $39.00K | $9.00K | $0 | +64.1% |
| Stock-based compensation | $6.26M | $3.10M | $3.28M | $4.01M | +102.2% |
| Change in working capital | $11.37M | $1.76M | -$392.00K | $1.68M | +547.2% |
| Operating cash flow | -$50.88M | -$30.75M | -$28.71M | -$8.19M | -65.5% |
| Capital expenditure | -$116.00K | -$37.00K | -$88.00K | — | -213.5% |
| Investing cash flow | $36.23M | -$35.99M | $47.00K | $0 | +200.7% |
| Share buybacks | $0 | -$1.00K | $0 | — | +100.0% |
| Financing cash flow | $69.36M | $51.86M | $24.68M | $7.24M | +33.8% |
| Free cash flow | -$51.00M | -$30.78M | -$28.79M | -$8.19M | -65.7% |
| End cash position | $76.96M | $22.24M | $37.13M | $41.10M | +246.0% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | YoY |
|---|---|---|---|---|---|---|---|
| Total revenue | $0 | $0 | $0 | $0 | $0 | — | — |
| Operating revenue | $0 | $0 | $0 | $0 | $0 | — | — |
| Research & development | $22.34M | $20.47M | $21.74M | $15.20M | $8.62M | — | +9.1% |
| Selling, general & admin | $2.27M | $1.97M | $2.83M | $3.18M | $2.96M | — | +15.1% |
| Total operating expense | $24.60M | $22.44M | $24.57M | $18.38M | $11.58M | — | +9.6% |
| Operating income | -$24.60M | -$22.44M | -$24.57M | -$18.38M | -$11.58M | — | -9.6% |
| Pre-tax income | -$23.14M | -$21.76M | -$23.75M | -$17.68M | -$11.25M | — | -6.3% |
| Tax provision | $193.00K | $373.00K | — | — | $0 | $0 | -48.3% |
| Net income | -$23.33M | -$22.14M | -$24.79M | -$17.68M | -$11.25M | — | -5.4% |
| Net income to common | -$23.33M | -$22.14M | -$24.79M | -$17.68M | -$11.25M | — | -5.4% |
| Basic EPS | -0.97 | -1.24 | — | -0.99 | -0.96 | -1.37 | +21.8% |
| Diluted EPS | -0.98 | -1.24 | — | -0.99 | -0.96 | -1.37 | +20.9% |
| EBIT | -$24.60M | -$22.44M | -$24.57M | -$18.38M | -$11.58M | — | -9.6% |
| EBITDA | -$24.58M | -$22.42M | -$24.55M | -$18.37M | -$11.56M | — | -9.6% |
| Basic shares | 23.79M | 17.84M | — | 17.79M | 11.74M | 11.40M | +33.4% |
| Diluted shares | 23.79M | 17.84M | — | 17.79M | 11.74M | 11.40M | +33.4% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | YoY |
|---|---|---|---|---|---|---|
| Cash & equivalents | $49.63M | $58.22M | $76.96M | $93.41M | $106.14M | -14.8% |
| Cash & short-term investments | $198.46M | $58.22M | $76.96M | $93.41M | $106.14M | +240.9% |
| Total current assets | $203.10M | $65.11M | $80.59M | $95.41M | $107.62M | +211.9% |
| Property, plant & equipment | $90.00K | $110.00K | $129.00K | $148.00K | $110.00K | -18.2% |
| Total assets | $205.74M | $67.22M | $82.78M | $97.09M | $107.78M | +206.1% |
| Total current liabilities | $20.29M | $23.65M | $20.75M | $12.99M | $9.17M | -14.2% |
| Total liabilities | $21.95M | $25.12M | $21.79M | $12.99M | $9.17M | -12.6% |
| Retained earnings | -$268.84M | -$245.51M | -$223.37M | -$198.59M | -$180.90M | -9.5% |
| Shareholder equity | $183.79M | $42.10M | $60.99M | $84.10M | $98.61M | +336.6% |
| Working capital | $182.81M | $41.46M | $59.84M | $82.42M | $98.45M | +340.9% |
| Net tangible assets | $183.79M | $42.10M | $60.99M | $84.10M | $98.61M | +336.6% |
| Shares issued | 20.48M | 13.91M | 12.95M | 12.52M | 12.28M | +47.2% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | YoY |
|---|---|---|---|---|---|---|---|
| Net income | -$23.33M | -$22.14M | -$24.79M | -$17.68M | -$11.25M | — | -5.4% |
| Depreciation & amortisation | $20.00K | $19.00K | $19.00K | $17.00K | $15.00K | — | +5.3% |
| Stock-based compensation | $3.67M | $3.18M | $1.66M | $1.48M | $1.50M | — | +15.4% |
| Change in working capital | -$2.02M | $139.00K | $5.59M | $2.19M | -$322.00K | — | -1,550.4% |
| Operating cash flow | -$22.70M | -$18.81M | -$16.47M | -$14.00M | -$10.06M | — | -20.7% |
| Capital expenditure | — | — | — | -$55.00K | — | -$61.00K | — |
| Investing cash flow | -$147.84M | $0 | $0 | -$55.00K | $0 | — | — |
| Share buybacks | — | — | $0 | — | — | — | — |
| Financing cash flow | $161.95M | $74.00K | $9.00K | $1.32M | $70.35M | — | +218,750.0% |
| Free cash flow | -$22.70M | -$18.81M | -$16.47M | -$14.05M | -$10.06M | — | -20.7% |
| End cash position | $49.63M | $58.22M | $76.96M | $93.41M | $106.14M | — | -14.8% |
Earnings
Reported vs expected · EPS
| Quarter | Est. | Actual | Surprise |
|---|---|---|---|
| Jun 2026 | -0.88 | -0.97 | -10.4% |
| Mar 2026 | -1.16 | -1.24 | -6.9% |
| Dec 2025 | -1.15 | -1.45 | -26.4% |
| Sep 2025 | -1.07 | -0.99 | +7.3% |
Forward consensus
| Period | EPS | Analysts | Revenue | Growth |
|---|---|---|---|---|
| Current quarter | -1.09 | 1 | $0 | 0.0% |
| Next quarter | -1.11 | 1 | $0 | 0.0% |
| Current year | -4.48 | 1 | $0 | 0.0% |
| Next year | -4.08 | 4 | $0 | 0.0% |
Analyst targets & ownership
Mean target$73.00
High target$77.00
Low target$61.00
Implied upside-5.18%
Analyst count4
ConsensusBUY
Strong buy / Buy0 / 1
Hold3
Sell / Strong sell0 / 0
Held by insiders1.64%
Held by institutions96.65%
Institutions holding129
Price targets, consensus spread, insider and institutional ownership.
Moving averages & technicals
SMA 10
—
—
SMA 20
—
—
SMA 50
—
—
SMA 100
—
—
SMA 200
—
—
EMA 12
—
—
EMA 26
—
—
EMA 50
—
—
RSI (14)
—
—
MACD (12,26,9)
—
Hist —
ATR (14)
—
—
Realised vol 30D
—
Annualised
Bollinger upper
—
20, 2σ
Bollinger lower
—
20, 2σ
50 / 200 cross
—
—
Trend bias
—
—
Options chain
Calls
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Puts
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Every listed expiry, both sides of the book, with volume, open interest and implied volatility.
Risk profile
Beta vs SPY
—
—
Correlation to SPY
—
—
Realised vol 30D
—
Annualised
Market vol 1Y
—
SPY, annualised
Max drawdown 1Y
—
Peak to trough
Max drawdown 5Y
—
Peak to trough
ATR 14
—
Average true range
Beta (reported)
2.65
5Y monthly, from filing
Short interest
Shares short
1.63M
Prior 2.06M
Change vs prior
-20.8%
Shorts covering
% of float
7.74%
Normal
% of shares out
7.69%
Against total outstanding
Days to cover
0.8
Liquid
Float
18.67M
Freely tradeable shares
Exchanges publish short interest twice a month with a settlement lag, so this is roughly two weeks behind. Days to cover divides shares short by average daily volume — it estimates how long covering would take, not whether it will happen.
Rating changes
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| Jul 28, 26 | Barclays | DOWNGRADE | Overweight | Equal-Weight |
| Jul 21, 26 | Barclays | INITIATED | — | Overweight |
| Nov 25, 25 | Evercore ISI Group | INITIATED | — | Outperform |
| Nov 17, 25 | Chardan Capital | MAINTAINED | Buy | Buy |
| Aug 18, 25 | Guggenheim | INITIATED | — | Buy |
| Aug 15, 25 | Chardan Capital | MAINTAINED | Buy | Buy |
| Jun 24, 25 | Chardan Capital | MAINTAINED | Buy | Buy |
| Apr 1, 25 | Chardan Capital | MAINTAINED | Buy | Buy |
| Jan 21, 25 | TD Cowen | INITIATED | — | Buy |
| Dec 4, 24 | Chardan Capital | MAINTAINED | Buy | Buy |
| Nov 15, 24 | Chardan Capital | MAINTAINED | Buy | Buy |
| Aug 19, 24 | Chardan Capital | MAINTAINED | Buy | Buy |
Dividends & splits
Forward rate—
Forward yield—
5-year avg yield—
Payout ratio0.00%
Ex-dividend date—
Next pay dateJun 16, 2020
Last split1:25
Split dateAug 28, 2024
SEC filings
Post-effective amendment to a registration statement that is not immediately effective upon filing
POS AM · 2026-08-27
Tender Offer/Acquisition Reports
SC 14D9/A · 2026-08-21
Tender Offer/Acquisition Reports
SC TO-T/A · 2026-08-19
Periodic Financial Reports
10-Q · 2026-08-12
Tender Offer/Acquisition Reports
SC 14D9 · 2026-08-06
Tender Offer/Acquisition Reports
SC TO-C · 2026-07-28
Tender Offer/Acquisition Reports
SC14D9C · 2026-07-27
Corporate Changes & Voting Matters
8-K · 2026-07-09
PRIVATE STRATEGY · BY QUALIFICATION
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