Fortress Biotech, Inc. (NASDAQ:FBIO) Short Interest Update

Fortress Biotech, Inc. (NASDAQ:FBIO) saw a significant growth in short interest in the month of September. As of September 30th, there was short interest totalling 2,350,000 shares, a growth of 8.3% from the September 15th total of 2,170,000 shares. Based on an average trading volume of 471,500 shares, the short-interest ratio is currently 5.0 days. Currently, 10.7% of the shares of the stock are short sold.

Fortress Biotech Stock Performance

Shares of FBIO stock traded up $0.06 during trading hours on Thursday, reaching $1.81. The company had a trading volume of 677,528 shares, compared to its average volume of 365,654. Fortress Biotech has a 12-month low of $1.24 and a 12-month high of $4.43. The company has a market capitalization of $36.95 million, a price-to-earnings ratio of -0.30 and a beta of 1.80. The stock has a fifty day moving average of $1.78 and a 200-day moving average of $1.84.

Fortress Biotech (NASDAQ:FBIO) last issued its earnings results on Tuesday, August 13th. The biopharmaceutical company reported ($0.73) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.32) by $0.59. The company had revenue of $14.90 million during the quarter, compared to analysts’ expectations of $14.97 million. On average, analysts forecast that Fortress Biotech will post -2.65 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Lindsay A. Md Rosenwald bought 763,359 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were acquired at an average price of $1.84 per share, for a total transaction of $1,404,580.56. Following the completion of the transaction, the chief executive officer now directly owns 3,657,264 shares in the company, valued at $6,729,365.76. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 33.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Fortress Biotech

A number of hedge funds have recently modified their holdings of the company. Virtu Financial LLC acquired a new stake in Fortress Biotech during the first quarter worth $31,000. 180 Wealth Advisors LLC purchased a new position in shares of Fortress Biotech during the 2nd quarter worth $107,000. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Fortress Biotech during the 2nd quarter worth about $207,000. PVG Asset Management Corp purchased a new stake in Fortress Biotech in the 2nd quarter valued at about $266,000. Finally, Shikiar Asset Management Inc. lifted its position in Fortress Biotech by 4.4% in the third quarter. Shikiar Asset Management Inc. now owns 235,969 shares of the biopharmaceutical company’s stock valued at $342,000 after buying an additional 10,000 shares during the last quarter. Hedge funds and other institutional investors own 96.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. HC Wainwright reaffirmed a “buy” rating and issued a $24.00 price target on shares of Fortress Biotech in a research note on Friday, July 19th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Fortress Biotech in a research note on Thursday, June 20th. Finally, StockNews.com raised shares of Fortress Biotech from a “sell” rating to a “hold” rating in a report on Wednesday, August 14th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Fortress Biotech currently has a consensus rating of “Moderate Buy” and an average target price of $13.00.

About Fortress Biotech

Fortress Biotech, Inc, a biopharmaceutical company, develops dermatology, pharmaceutical, and biotechnology products in the United States. The company markets dermatology products, such as Qbrexza a medicated cloth towelette for the treatment of primary axillary hyperhidrosis; Accutane capsules for severe recalcitrant nodular acne; Amzeeq for severe acne vulgaris; Zilxi, a topical foam; Exelderm cream and solution for topical use; Targadox an oral doxycycline drug for adjunctive therapy for severe acne; Luxamend; sulconazole nitrate cream and solution for tinea cruris and tinea corporis; and doxycycline hyclate tablet.