(FBRX) Forte Biosciences - Overview

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

Stock: FB-102, Monoclonal Antibody, Autoimmune, Dermatology, Graft-Vs-Host

Total Rating 42

Risk 65

Buy Signal -0.11

Biotechnology » Biotechnology
Age: 8.8y

Market Cap: 172m
Avg Trading Vol: 6.65M USD

ATR: 13.00%
Peers RS (IBD): 90.00

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

Risk 5d forecast
Volatility	133%
Relative Tail Risk	-11.2%

Reward TTM
Sharpe Ratio	1.31
Alpha	115.38

Character TTM
Beta	0.840
Beta Downside	1.138

Drawdowns 3y
Max DD	84.94%
CAGR/Max DD	0.07

Description: FBRX Forte Biosciences January 18, 2026

Forte Biosciences, Inc. (NASDAQ:FBRX) is a Dallas-based clinical-stage biopharma focused on its lead candidate, FB-102, an anti-CD122 monoclonal antibody being evaluated for autoimmune disorders such as graft-vs-host disease, vitiligo, alopecia areata, celiac disease, and non-segmental vitiligo.

Key operational metrics as of the latest 10-Q (Q3 2024) show a cash balance of roughly $45 million, giving the company an estimated 12-month runway at current burn rates (~$3.5 M per quarter). The autoimmune therapeutics market is projected to exceed $200 billion by 2028, with CD122-targeted pathways cited by industry analysts as a high-growth niche (average CAGR ≈ 12%). Forte’s recent pre-clinical data indicated a ≥70 % reduction in disease-related cytokine levels in murine models, a benchmark that, if replicated in humans, could position FB-102 competitively against existing JAK inhibitors.

For a deeper quantitative view, you might explore ValueRay’s analyst dashboard on FBRX to assess valuation sensitivities and peer comparisons.

Piotroski VR‑10 (Strict, 0-10) 0.0

Net Income: -51.7m TTM > 0 and > 6% of Revenue
FCF/TA: -0.46 > 0.02 and ΔFCF/TA 119.7 > 1.0
NWC/Revenue: 216.9k% < 20% (prev 75.7k%; Δ 141.2k% < -1%)
CFO/TA -0.46 > 3% & CFO -44.4m > Net Income -51.7m
Net Debt/EBITDA: error (EBITDA <= 0)
Current Ratio: 7.34 > 1.5 & < 3
Outstanding Shares: last quarter (17.8m) vs 12m ago 863.1% < -2%
Gross Margin: -44.74% > 18% (prev -1.92%; Δ -4282 % > 0.5%)
Asset Turnover: 0.07% > 50% (prev 0.07%; Δ -0.00% > 0%)
Interest Coverage Ratio: -65.84 > 6 (EBITDA TTM -52.5m / Interest Expense TTM -798.0k)

Altman Z'' -15.00

A: 0.85 (Total Current Assets 95.4m - Total Current Liabilities 13.0m) / Total Assets 97.1m
B: -2.05 (Retained Earnings -198.6m / Total Assets 97.1m)
C: -0.91 (EBIT TTM -52.5m / Avg Total Assets 57.5m)
D: -15.28 (Book Value of Equity -198.6m / Total Liabilities 13.0m)
Altman-Z'' Score: -23.29 = D

What is the price of FBRX shares?

As of February 10, 2026, the stock is trading at USD 29.81 with a total of 231,468 shares traded.
Over the past week, the price has changed by -13.57%, over one month by +24.83%, over three months by +118.07% and over the past year by +170.39%.

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?

Issuer	Target	Up/Down from current
Wallstreet Target Price	52.3	75.3%
Analysts Target Price	52.3	75.3%
ValueRay Target Price	35.3	18.3%

FBRX Fundamental Data Overview February 05, 2026

P/B = 5.0802
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 = 9.01% (E(172.1m)/V(172.1m) * Re(9.01%) + (debt-free company))
Discount Rate = 9.01% (= 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

News: Wall Street Journal | Benzinga | Yahoo Finance
Fund Manager Positions: Dataroma | Stockcircle