Forte Biosciences Inc. (FBRX)
NASDAQ:FBRX
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Forte Biosciences
(NASDAQ:FBRX)
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Rating:45Neutral
Price Target:
$20.00
▼(-41.04% Downside)
Action:Reiterated
Date:05/14/26
The score is primarily held down by weak financial performance (no revenue, sizable losses, and persistent cash burn). Technicals also lean bearish with price below key short/intermediate moving averages and negative MACD. The recent financing is a moderate positive by improving the cash runway, but valuation support is limited because losses drive a negative P/E.
Positive Factors
Debt-free balance sheet
A debt-free capital structure meaningfully reduces solvency and interest-rate risk, preserving flexibility to fund R&D through equity or partnerships. For a clinical-stage biotech this lowers fixed financing costs and extends runway options during multi-year clinical programs.
Negative Factors
No revenue
Zero reported revenue indicates the company remains pre-commercial and wholly dependent on external funding; without product sales the business cannot offset development costs, making long-term viability contingent on successful trials or sustained financing.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-free balance sheet
A debt-free capital structure meaningfully reduces solvency and interest-rate risk, preserving flexibility to fund R&D through equity or partnerships. For a clinical-stage biotech this lowers fixed financing costs and extends runway options during multi-year clinical programs.
Read all positive factors
Forte Biosciences (FBRX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$431.10M
Dividend YieldN/A
Average Volume (3M)97.46K
Price to Earnings (P/E)―
Beta (1Y)1.64
Revenue GrowthN/A
EPS Growth63.03%
CountryUS
Employees14
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-4.58
Shares Outstanding19,595,604
10 Day Avg. Volume83,173
30 Day Avg. Volume97,456
Financial Highlights & Ratios
PEG Ratio0.94
Price to Book (P/B)65.81
Price to Sales (P/S)0.00
P/FCF Ratio-78.70
Enterprise Value/Market Cap0.56
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit-40.26K
Enterprise Value/Ebitda-3.17
Forecast
1Y Price Target
$67.00Price Target Upside97.52% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)-4.17
Revenue Forecast (FY)N/A
Forte Biosciences Business Overview & Revenue Model
Company Description
Forte Biosciences, Inc. operates as a clinical-stage biopharmaceutical company in the United States. It is developing FB-102 program that addresses various autoimmune diseases, such as vitiligo and alopecia areata. The company is headquartered in ...
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 | 0.00 | -39.00K | -9.00K | 0.00 | -36.00K |
| EBITDA | -70.59M | -35.44M | -32.48M | -13.86M | -21.45M |
| 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
Negative
33.92
Price Trends
26.86
Negative
28.18
Negative
21.70
Negative
Market Momentum
-1.98
Positive
38.39
Neutral
28.41
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FBRX, the sentiment is Negative. The current price of 33.92 is above the 20-day moving average (MA) of 24.78, above the 50-day MA of 26.86, and above the 200-day MA of 21.70, indicating a bearish trend. The MACD of -1.98 indicates Positive momentum. The RSI at 38.39 is Neutral, neither overbought nor oversold. The STOCH value of 28.41 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 | $163.56M | 2.36 | 28.10% | ― | 27.80% | 268.45% | |
56 Neutral | $1.41B | -21.70 | -47.12% | ― | ― | 41.60% | |
55 Neutral | $279.34M | -3.14 | -38.70% | ― | ― | 21.65% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | $196.22M | -1.23 | 593.93% | ― | -77.09% | 6.91% | |
50 Neutral | $242.17M | -1.52 | -174.71% | ― | -76.26% | -9.93% | |
45 Neutral | $431.10M | -52.18 | -106.16% | ― | ― | 63.03% |
* Healthcare Sector Average
FBRX
Forte Biosciences
21.59
13.10
154.30%
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PLX
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TARA
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IPHA
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1.83
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Forte Biosciences Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Forte Biosciences Prices $150 Million Public Offering
Positive
Apr 9, 2026
On April 8, 2026, Forte Biosciences, Inc. priced a public offering of 5,709,936 shares of common stock at $26.27 per share, with gross proceeds expected to be about $150 million and closing anticipated around April 10, 2026, subject to customary c...
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.