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Forte Biosciences
(NASDAQ:FBRX)
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Rating:49Neutral
Price Target:
$20.50
▼(-39.56% Downside)
Action:Reiterated
Date:07/10/26
The score is primarily constrained by weak financial performance (no revenue, large and widening losses, and heavy cash burn), despite the benefit of being debt-free. Technicals are neutral with only modest positive momentum, while valuation is limited by loss-making status. Offsetting these risks, the recent positive Phase 1b data provides a meaningful catalyst, but it does not fully mitigate funding/runway concerns.
Positive Factors
Debt-free capital structure
A zero-debt balance sheet materially reduces interest burden and bankruptcy risk for a clinical-stage biotech. This structural strength provides strategic flexibility to time financings, pursue partnerships or M&A, and prioritize R&D spending without near-term interest obligations.
Negative Factors
No revenue and widening losses
Absence of operating revenue and growing net losses is a persistent structural weakness for sustainability. Over months this necessitates external financing, dilutes shareholder value, and constrains the company’s ability to self-fund pivotal trials or scale operations without partners.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-free capital structure
A zero-debt balance sheet materially reduces interest burden and bankruptcy risk for a clinical-stage biotech. This structural strength provides strategic flexibility to time financings, pursue partnerships or M&A, and prioritize R&D spending without near-term interest obligations.
Read all positive factors
Forte Biosciences (FBRX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$421.45M
Dividend YieldN/A
Average Volume (3M)97.46K
Price to Earnings (P/E)―
Beta (1Y)1.61
Revenue GrowthN/A
EPS Growth63.03%
CountryUS
Employees22
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-4.58
Shares Outstanding20,478,817
10 Day Avg. Volume83,173
30 Day Avg. Volume97,456
Financial Highlights & Ratios
PEG Ratio0.09
Price to Book (P/B)65.81
Price to Sales (P/S)0.00
P/FCF Ratio-78.70
Enterprise Value/Market Cap0.44
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit-31.00K
Enterprise Value/Ebitda-2.50
Forecast
1Y Price Target
$67.00Price Target Upside97.52% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)-4.01
Revenue Forecast (FY)N/A
Forte Biosciences Business Overview & Revenue Model
Company Description
Forte Biosciences, Inc. is a U.S.-based biopharmaceutical company currently in its clinical development phase. The firm's key initiative involves advancing the FB-102 program, which is designed to tackle a variety of autoimmune conditions, notably...
How the Company Makes Money
null...
Forte Biosciences Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
56
Neutral
Cash Flow
24
Negative
| Breakdown | Mar 2026 | Mar 2025 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -64.00K | -39.00K | -9.00K | 0.00 | -36.00K |
| EBITDA | -68.27M | -35.44M | -31.47M | -13.84M | -21.67M |
| Net Income | -69.38M | -35.48M | -31.48M | -13.86M | -21.71M |
Balance Sheet | |||||
| Total Assets | 82.78M | 61.56M | 38.98M | 42.00M | 43.31M |
| Cash, Cash Equivalents and Short-Term Investments | 76.96M | 58.37M | 37.13M | 41.10M | 42.04M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 21.79M | 9.08M | 3.67M | 3.18M | 1.76M |
| Stockholders Equity | 60.99M | 52.48M | 35.31M | 38.82M | 41.55M |
Cash Flow | |||||
| Free Cash Flow | -51.00M | -30.78M | -28.79M | -8.19M | -16.68M |
| Operating Cash Flow | -50.88M | -30.75M | -28.71M | -8.19M | -16.68M |
| Investing Cash Flow | 36.23M | -35.99M | 47.00K | 0.00 | 0.00 |
| Financing Cash Flow | 69.36M | 51.86M | 24.68M | 7.24M | -44.00K |
Forte Biosciences Technical Analysis
Positive
33.92
Price Trends
21.48
Positive
25.06
Positive
22.98
Positive
Market Momentum
1.50
Negative
81.86
Negative
72.59
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FBRX, the sentiment is Positive. The current price of 33.92 is above the 20-day moving average (MA) of 20.09, above the 50-day MA of 21.48, and above the 200-day MA of 22.98, indicating a bullish trend. The MACD of 1.50 indicates Negative momentum. The RSI at 81.86 is Negative, neither overbought nor oversold. The STOCH value of 72.59 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FBRX.
Forte Biosciences Risk Analysis
Forte Biosciences disclosed 71 risk factors in its most recent earnings report. Forte Biosciences reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Forte Biosciences Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $191.76M | 12.27 | 28.10% | ― | 27.80% | 268.45% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | $171.13M | -2.89 | 593.93% | ― | -77.09% | 6.91% | |
49 Neutral | $421.45M | -8.01 | -106.16% | ― | ― | 63.03% | |
48 Neutral | $254.51M | -1.27 | -174.71% | ― | -76.26% | -9.93% | |
47 Neutral | $2.56B | ― | -47.12% | ― | ― | 41.60% | |
47 Neutral | $231.00M | -2.88 | -38.70% | ― | ― | 21.65% |
* Healthcare Sector Average
FBRX
Forte Biosciences
36.70
25.25
220.38%
CHRS
Coherus Biosciences
1.63
0.76
88.00%
SLS
SELLAS Life Sciences Group
13.51
11.62
612.93%
PLX
Protalix
2.37
0.89
60.14%
TARA
Protara Therapeutics
4.20
1.08
34.62%
IPHA
Innate Pharma
1.79
-0.02
-1.10%
Forte Biosciences Corporate Events
Business Operations and StrategyProduct-Related Announcements
Forte Biosciences Reports Positive Phase 1b Vitiligo Results
Positive
Jul 9, 2026
On July 9, 2026, Forte Biosciences reported positive results from a double-blind, placebo-controlled Phase 1b trial of FB102 in vitiligo, showing a 29.6% mean improvement in facial vitiligo area scoring index at week 24 versus placebo and sustaine...
Executive/Board ChangesShareholder Meetings
Forte Biosciences Shareholders Approve Directors and Governance Items
Positive
Jun 2, 2026
At its 2026 annual meeting of stockholders held on May 29, 2026, Forte Biosciences, Inc. reported that 17,766,034 of 20,478,817 outstanding shares were represented, and shareholders elected three Class III directors, Steven Kornfeld, Scott Brun, M...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.