Alger Small Cap Focus Fund highlighted Forte Biosciences as a detractor from its second-quarter 2026 performance, citing an equity raise with limited initial disclosure and investor impatience over delayed vitiligo data. The fund remains constructive on the clinical-stage biopharmaceutical company ahead of a celiac disease readout expected later this year and is cautiously optimistic on forthcoming vitiligo results. Forte Biosciences is developing FB102, an anti-CD122 monoclonal antibody with potential applications in celiac disease, vitiligo, and alopecia areata. The fund views the differentiated mechanism and multiple sizable indications favorably, supported by encouraging early celiac data. Forte Biosciences shares closed at $47.49 on July 20, 2026, with a market capitalization of $972.54 million, and posted a one-month return of 161.65% and a 52-week gain of 355.32%.
Forte Biosciences IncEquity raise with limited initial disclosure detracted from performance, but fund remains constructive ahead of celiac and vitiligo readouts.