FBRX Stock Analysis: Forte Biosciences | NASDAQ

Biotechnology | NASDAQ, USA | Market Cap: 1.122m USD | 12M Return: 557.8% | Charts, Fundamentals & Technical Analysis

FB-102, Autoimmune Therapies, Monoclonal Antibody, Clinical-Stage Biopharmaceutical
Total Rating 44
Safety 49
Buy Signal 1.19
Biotechnology
Industry Rotation: -12.5
Market Cap: 1.12B
Avg Turnover: 25.0M
Risk 3d forecast
Volatility180%
VaR 5th Pctl27.0%
VaR vs Median-7.02%
Reward TTM
Sharpe Ratio1.97
Rel. Str. IBD100
Rel. Str. Peer Group99.3
Character TTM
Beta1.068
Beta Downside-0.388
Hurst Exponent0.454
Drawdowns 3y
Max DD83.59%
CAGR/Max DD0.54
CAGR/Mean DD1.04
EPS (Earnings per Share) EPS (Earnings per Share) of FBRX over the last years for every Quarter: "2021-06": -10.75, "2021-09": -13.5, "2021-12": -0.21, "2022-03": -0.17, "2022-06": -5.25, "2022-09": -4.5, "2022-12": -0.23, "2023-03": -0.2322, "2023-06": -0.42, "2023-09": -0.26, "2023-12": -0.19, "2024-03": -4, "2024-06": -6.75, "2024-09": -4.54, "2024-12": -1.17, "2025-03": -1.37, "2025-06": -0.96, "2025-09": -0.99, "2025-12": -1.45, "2026-03": -1.24,
Last SUE: -0.06
Qual. Beats: 0
Revenue Revenue of FBRX over the last years for every Quarter: 2021-06: 0, 2021-09: 0, 2021-12: 0, 2022-03: 0, 2022-06: 0, 2022-09: 0, 2022-12: 0, 2023-03: 0, 2023-06: 0, 2023-09: 0, 2023-12: 0.006, 2024-03: 0.006, 2024-06: 0, 2024-09: 0, 2024-12: 0.038, 2025-03: 0, 2025-06: 0, 2025-09: 0, 2025-12: 0, 2026-03: 0,
Last SUE: 0.00
Qual. Beats: 0

Warnings

Strong Share Dilution
Altman Z'' In Financial Distress Zone
Extended 3d
Choppy

Tailwinds

Supp Ema8
Rs Leader
Idiosyncratic Leader
Ep Pivot

Seasonality 9.2 years of data

Jan -4.0% 18
Feb -4.3% 15
Mar +1.6% 2
Apr +2.0% 9
May -2.7% 8
Jun +1.7% 9
Jul -1.7% 15
Aug +4.0% 14
Sep -16.0% 18
Oct -13.9% 34
Nov +6.6% 16
Dec +3.9% 17

How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.

Description: FBRX Forte Biosciences

Forte Biosciences, Inc. (FBRX) is a U.S.-based clinical-stage biopharmaceutical company headquartered in Dallas, Texas. Its lead product candidate, FB-102, is a proprietary anti-CD122 monoclonal antibody being developed for autoimmune and autoimmune-related indications including celiac disease, vitiligo, alopecia areata, and type 1 diabetes.

As a clinical-stage biotech, Forte Biosciences has not yet commercialized any products and is dependent on advancing its pipeline through clinical trials. Monoclonal antibody therapeutics are a well-established modality in the biotechnology sector, commonly used to target specific immune system proteins in autoimmune and inflammatory diseases.

Headlines to Watch Out For
  • FB-102 Phase 1 celiac disease data readout expected
  • Pipeline expansion into vitiligo and alopecia areata indications
  • Cash runway critical as clinical-stage burn continues
Piotroski VR-10 (Strict) 0.5
Net Income: error (cannot be calculated; needs Net Income TTM and Revenue TTM)
FCF/TA: -0.88 > 0.02 and ΔFCF/TA -15.60 > 1.0
NWC/Revenue: error (cannot be calculated; needs Current Assets/Liabilities and Revenue current+prev)
CFO/TA -0.88 > 3% & CFO -59.3m > Net Income -75.9m
Net Debt/EBITDA: error (cannot be calculated)
Current Ratio: 2.75 > 1.5 & < 3
Outstanding Shares: last quarter (178.4m) vs 12m ago 1.46k% < -2%
Gross Margin: error (current vs previous; cannot be calculated due to missing/invalid data or negative margin)
Asset Turnover: 0.0% > 50% (prev 0.08%; Δ -0.08% > 0%)
Interest Coverage Ratio: error (cannot be calculated; needs correct EBIT TTM and Interest Expense TTM)
Altman Z'' -14.82
A: 0.62 (Total Current Assets 65.1m - Total Current Liabilities 23.6m) / Total Assets 67.2m
B: -3.65 (Retained Earnings -245.5m / Total Assets 67.2m)
C: -1.30 (EBIT TTM -74.4m / Avg Total Assets 57.3m)
D: 1.68 (Book Value of Equity 42.1m / Total Liabilities 25.1m)
Altman-Z'' = -14.82 = D
What is the price of FBRX shares?

As of July 28, 2026, the stock is trading at USD 76.50 with a total of 17,108,344 shares traded. Over the past week, the price has changed by +61.09%, over one month by +258.82%, over three months by +185.45% and over the past year by +557.78%.

Current recommended Stop Loss: 71.00 (which is 7.2% or 1.2 ATR below the current price).

Is FBRX a buy, sell or hold?

Forte Biosciences has received a consensus analysts rating of 5.00. Therefore, it is recommended to buy FBRX.

  • StrongBuy: 4
  • Buy: 0
  • Hold: 0
  • Sell: 0
  • StrongSell: 0

What are the forecasts/targets for the FBRX price?
Analysts Target Price 66.6 -12.9%
Forte Biosciences (FBRX) - Fundamental Data Overview as of 28 July 2026
Market Cap USD = 1.12b (1.12b USD * 1.0 USD.USD)
P/B = 26.6468
Revenue TTM = 0.0 USD
EBIT TTM = -74.4m USD
EBITDA TTM = -74.4m USD
 Long Term Debt = unknown (none)
 Short Term Debt = unknown (none)
 Debt = unknown
 Net Debt = unknown
 Enterprise Value = 1.06b USD (1.12b + (null Debt) - CCE 58.2m)
 Interest Coverage Ratio = unknown (Ebit TTM -74.4m / Interest Expense TTM 0.0)
 EV/FCF = -17.91x (Enterprise Value 1.06b / FCF TTM -59.4m)
FCF Yield = -5.58% (FCF TTM -59.4m / Enterprise Value 1.06b)
 FCF Margin = unknown (Revenue TTM is 0 or missing)
 Net Margin = unknown
 Gross Margin = unknown ((Revenue TTM 0.0 - Cost of Revenue TTM 6.00k) / Revenue TTM)
 Tobins Q-Ratio = 15.82 (Enterprise Value 1.06b / Total Assets 67.2m)
 Interest Expense / Debt = unknown (Interest Expense 0.0 / Debt none)
 Taxrate = 21.0% (US federal default 21%)
NOPAT = -58.8m (EBIT -74.4m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 2.75 (Total Current Assets 65.1m / Total Current Liabilities 23.6m)
 Debt / Equity = unknown (Debt none)
 Debt / EBITDA = unknown (Net Debt none / EBITDA -74.4m)
 Debt / FCF = unknown (Net Debt none / FCF TTM -59.4m)
 Total Stockholder Equity = 71.5m (last 4 quarters mean from totalStockholderEquity)
 RoA = -132.3% (out of range, set to none)
 RoE = -106.2% (Net Income TTM -75.9m / Total Stockholder Equity 71.5m)
 RoCE = -170.8% (out of range, set to none) (EBIT -74.4m / Capital Employed (Total Assets 67.2m - Current Liab 23.6m))
 RoIC = -135.0% (out of range, set to none) (NOPAT -58.8m / Invested Capital 43.6m)
 WACC = 9.74% (E(1.12b)/V(1.12b) * Re(9.74%) + (debt-free company))
Discount Rate = 9.74% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 67.89 | Cagr: 102.8%
 [DCF] Fair Price = unknown (Cash Flow -59.4m)
 EPS Correlation: N/A | EPS CAGR: N/A | SUE: -0.06 | # QB: 0
Revenue Correlation: N/A | Revenue CAGR: N/A | SUE: 0.0 | # QB: 0
EPS current Quarter (2026-06-30): EPS=-0.91 | Chg30d=+10.00% | Revisions=+0% | Analysts=5
EPS next Quarter (2026-09-30): EPS=-0.96 | Chg30d=+4.68% | Revisions=+29% | Analysts=5
EPS current Year (2026-12-31): EPS=-3.89 | Chg30d=+2.90% | Revisions=+38% | GrowthEPS=+17.3% | GrowthRev=+0.0%
EPS next Year (2027-12-31): EPS=-4.10 | Chg30d=+1.01% | Revisions=+12% | GrowthEPS=-5.3% | GrowthRev=+0.0%
[Analyst] Revisions Ratio: +29% (up=12, down=6)