Forte Biosciences slips for fifth session; CEO, CFO trims stake
09/09/2021 15:09
** Shares of biotech co developing skin disease treatments
FBRX.O dropped as much as 7.4% in early trade
** Stock last down 1.4% to $4.09, slips for the fifth
straight session
** CEO Paul Wagner sold 1 mln shares at ~$4.35 for a total
amount of $4.35 mln, while CFO Antony Riley offloaded 25,000
shares at ~$4.244 for $106,100 on Sept 7, according to separate
SEC filings https://bit.ly/3E1xqqh [https://bit.ly/3tskCnP]
** After the transactions, Wagner now holds ~1.27 mln shares
valued at ~$5.28 mln; Riley owns 36,014 shares for a value of
$149,458 as per stock's last close - Refinitiv data
** On Sep 3, FBRX dived 82.3% as it scrapped plans with to
develop its only drug candidate after its experimental treatment
for eczema, failed to meet its main goal urn:newsml:reuters.com:*:nL4N2Q52BE
** All four brokerages covering the stock rate it "sell" or
lower; their median PT is $3.50 - Refinitiv data
** Including session's losses, stock had fallen 88.8% YTD
(Reporting by Devik Jain in Bengaluru)
((Devik.Jain@thomsonreuters.com; within U.S. +1 646 223 8780;
outside U.S. +91 80 6182 2062; ;))