Forte Biosciences Ownership

Who are the major shareholders and have insiders been buying or selling?

Recent Insider Transactions

NasdaqCM:FBRX Recent Insider Transactions by Companies or Individuals
Date	Value	Name	Entity	Role	Shares	Max Price
21 Nov 24	BuyUS$124,998	Antony Riley	Individual		22,514	US$5.55

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

What is the ownership structure of FBRX?
Owner Type	Number of Shares	Ownership Percentage
Private Companies	20,711	0.117%
Individual Insiders	558,477	3.16%
VC/PE Firms	1,196,955	6.77%
General Public	6,915,575	39.1%
Institutions	8,990,306	50.8%

Dilution of Shares: Shareholders have been substantially diluted in the past year, with total shares outstanding growing by 741.1%.

Top Shareholders

Top 25 shareholders own 60.38% of the company

Ownership	Name	Shares	Current Value	Change %	Portfolio %
9.15%	Fred Alger Management, LLC	1,618,649	US$13.0m	77.8%	0.08%
7.89%	Janus Henderson Group plc	1,394,852	US$11.2m	51.6%	0.01%
6.77%	OrbiMed Advisors LLC	1,196,955	US$9.6m	102%	0.22%
6.06%	Federated Hermes, Inc.	1,072,233	US$8.6m	0%	0.02%
4.45%	Tybourne Capital Management (HK) Ltd.	786,647	US$6.3m	26.9%	22.78%
3.33%	BVF Partners L.P.	588,344	US$4.7m	-1%	0.2%
2.83%	Cable Car Capital LLC	500,000	US$4.0m	128%	5.26%
2.8%	Sphera Funds Management Ltd	495,109	US$4.0m	0%	0.97%
2.75%	The Vanguard Group, Inc.	486,919	US$3.9m	447%	no data
2.69%	Ikarian Capital, LLC	476,443	US$3.8m	-21.8%	1.59%
2.44%	Steven Oliveira	432,276	US$3.5m	0%	no data
1.89%	Adage Capital Management, L.P.	333,333	US$2.7m	0%	0.01%
1.88%	Woodline Partners LP	331,987	US$2.7m	62.1%	0.02%
1.48%	AWM Investment Company Inc	261,821	US$2.1m	91.4%	0.3%
0.81%	Heights Capital Management, Inc.	143,033	US$1.1m	0%	no data
0.46%	Paul A. Wagner	80,940	US$650.5k	-9.76%	no data
0.41%	Millennium Management LLC	72,116	US$579.6k	394%	no data
0.39%	Perceptive Advisors LLC	68,192	US$548.0k	0%	0.02%
0.36%	Geode Capital Management, LLC	64,110	US$515.2k	6.7%	no data
0.33%	Boothbay Fund Management, LLC	58,637	US$471.2k	-34.3%	0.02%
0.33%	ATG Capital Management, LLC	58,480	US$470.0k	0%	33.8%
0.29%	Camac Partners, LLC	51,087	US$410.6k	0%	0.61%
0.22%	Mink Brook Asset Management LLC	38,893	US$312.6k	0%	0.37%
0.19%	BlackRock, Inc.	33,695	US$270.8k	395%	no data
0.18%	Antony Riley	31,599	US$254.0k	-6.18%	no data

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/08/18 12:49
End of Day Share Price	2025/08/15 00:00
Earnings	2025/06/30
Annual Earnings	2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Forte Biosciences, Inc. is covered by 8 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Kalpit Patel	B. Riley Securities, Inc.
Kumaraguru Raja	Brookline Capital Markets
Keay Nakae	Chardan Capital Markets, LLC