(FBRX) Forte Biosciences - Ratings and Ratios

Exchange: NASDAQ • Country: United States • Currency: USD • Type: Common Stock • ISIN: US34962G2084

FB-102, Antibody, Autoimmune, Clinical

Biotechnology
Market Cap in USD: 172m

IPO / Inception: 2017-04-13
12m vs SPY: 53.2%

EPS (Earnings per Share)

EPS CAGR: -5.13%
EPS Trend: -62.0%

Last SUE: -0.87
Qual. Beats: 0

Revenue

Rev. CAGR: 0.00%
Rev. Trend: 26.9%

Last SUE: 0.00
Qual. Beats: 0

Dividends

Currently no dividends paid

Risk via 5d forecast
Volatility	164%
Value at Risk 5%th	238%
Relative Tail Risk	-11.90%

Reward TTM
Sharpe Ratio	0.98
Alpha	36.09
CAGR/Max DD	0.06

Character TTM
Hurst Exponent	0.391
Beta	0.814
Beta Downside	1.082

Drawdowns 3y
Max DD	84.94%
Mean DD	42.18%
Median DD	45.43%

Description: FBRX Forte Biosciences November 15, 2025

Forte Biosciences, Inc. (NASDAQ:FBRX) is a Dallas-based clinical-stage biopharma focused on developing FB-102, an anti-CD122 monoclonal antibody targeting a range of autoimmune and autoimmune-related conditions, including graft-versus-host disease, vitiligo, alopecia areata, celiac disease, and non-segmental vitiligo.

Key industry context: the global autoimmune disease therapeutics market is projected to exceed $150 billion by 2028, driven by rising prevalence and unmet patient needs. As of the latest 10-Q, Forte reported $45 million in cash and equivalents, providing runway for Phase 2 trials through at least 2026. The biotech sector’s recent surge in venture capital funding-up ~22 % YoY-supports continued R&D investment for niche immunomodulators like FB-102.

For a deeper quantitative view of FBRX’s valuation metrics, you may find ValueRay’s analyst dashboard useful.

Piotroski VR‑10 (Strict, 0-10) 0.0

Net Income (-51.7m TTM) > 0 and > 6% of Revenue (6% = 2280 TTM)

FCFTA -0.46 (>2.0%) and ΔFCFTA 119.7pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue 216.9k% (prev 75.7k%; Δ 141.2kpp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA -0.46 (>3.0%) and CFO -44.4m > Net Income -51.7m (YES >=105%, WARN >=100%)

NO Net Debt/EBITDA fails (EBITDA <= 0)

Current Ratio 7.34 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (17.8m) change vs 12m ago 863.1% (target <= -2.0% for YES)

Gross Margin -44.74% (prev -191.7%; Δ 146.9pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 0.07% (prev 0.07%; Δ -0.00pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio -65.84 (EBITDA TTM -52.5m / Interest Expense TTM -798.0k) >= 6 (WARN >= 3)

Altman Z'' -23.29

(A) 0.85 = (Total Current Assets 95.4m - Total Current Liabilities 13.0m) / Total Assets 97.1m

(B) -2.05 = Retained Earnings (Balance) -198.6m / Total Assets 97.1m

warn (B) unusual magnitude: -2.05 — check mapping/units

(D) -15.28 = Book Value of Equity -198.6m / Total Liabilities 13.0m

Total Rating: -23.29 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 24.35

1. Piotroski 0.0pt

2. FCF Yield -56.67%

3. FCF Margin data missing

4. Debt/Equity data missing

5. Debt/Ebitda 1.78

6. ROIC - WACC (= -69.59)%

7. RoE -75.64%

8. Rev. Trend 26.91%

9. EPS Trend -62.05%

What is the price of FBRX shares?

As of January 13, 2026, the stock is trading at USD 29.66 with a total of 423,453 shares traded.
Over the past week, the price has changed by +31.47%, over one month by +38.79%, over three months by +101.08% and over the past year by +85.38%.

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.

Strong Buy: 4
Buy: 0
Hold: 0
Sell: 0
Strong Sell: 0

What are the forecasts/targets for the FBRX price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	52.3	76.2%
Analysts Target Price	52.3	76.2%
ValueRay Target Price	35.5	19.7%

FBRX Fundamental Data Overview January 09, 2026

P/B = 3.4946
Beta = 3.296
Revenue TTM = 38.0k USD
EBIT TTM = -52.5m USD
EBITDA TTM = -52.5m USD
Long Term Debt = unknown (none)
Short Term Debt = unknown (none)
Debt = unknown
Net Debt = -93.4m USD (from netDebt column, last quarter)
Enterprise Value = 78.7m USD (172.1m + (null Debt) - CCE 93.4m)
Interest Coverage Ratio = -65.84 (Ebit TTM -52.5m / Interest Expense TTM -798.0k)
EV/FCF = -1.76x (Enterprise Value 78.7m / FCF TTM -44.6m)
FCF Yield = -56.67% (FCF TTM -44.6m / Enterprise Value 78.7m)
FCF Margin = -117.3k% (FCF TTM -44.6m / Revenue TTM 38.0k)
Net Margin = -136.2k% (Net Income TTM -51.7m / Revenue TTM 38.0k)
Gross Margin = -44.74% ((Revenue TTM 38.0k - Cost of Revenue TTM 55.0k) / Revenue TTM)
Gross Margin QoQ = none% (prev none%)
Tobins Q-Ratio = 0.81 (Enterprise Value 78.7m / Total Assets 97.1m)
Interest Expense / Debt = unknown (Interest Expense 102.0k / Debt none)
Taxrate = 21.0% (US default 21%)
NOPAT = -41.5m (EBIT -52.5m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 7.34 (Total Current Assets 95.4m / Total Current Liabilities 13.0m)
Debt / Equity = unknown (Debt none)
Debt / EBITDA = 1.78 (negative EBITDA) (Net Debt -93.4m / EBITDA -52.5m)
Debt / FCF = 2.10 (negative FCF - burning cash) (Net Debt -93.4m / FCF TTM -44.6m)
Total Stockholder Equity = 68.4m (last 4 quarters mean from totalStockholderEquity)
RoA = -89.96% (Net Income -51.7m / Total Assets 97.1m)
RoE = -75.64% (Net Income TTM -51.7m / Total Stockholder Equity 68.4m)
RoCE = -62.48% (EBIT -52.5m / Capital Employed (Total Assets 97.1m - Current Liab 13.0m))
RoIC = -60.68% (negative operating profit) (NOPAT -41.5m / Invested Capital 68.4m)
WACC = 8.91% (E(172.1m)/V(172.1m) * Re(8.91%) + (debt-free company))
Discount Rate = 8.91% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -33.33 | Cagr: -30.02%
Fair Price DCF = unknown (Cash Flow -44.6m)
EPS Correlation: -62.05 | EPS CAGR: -5.13% | SUE: -0.87 | # QB: 0
Revenue Correlation: 26.91 | Revenue CAGR: 0.0% | SUE: 0.0 | # QB: 0
EPS next Year (2026-12-31): EPS=-3.33 | Chg30d=-0.129 | Revisions Net=+1 | Growth EPS=+25.0% | Growth Revenue=+0.0%

Additional Sources for FBRX Stock

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