Cpwm LLC Takes $274,000 Position in Fortress Biotech (FBIO)

Share on StockTwits

Cpwm LLC acquired a new stake in Fortress Biotech (NASDAQ:FBIO) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 171,000 shares of the biopharmaceutical company’s stock, valued at approximately $274,000. Cpwm LLC owned 0.31% of Fortress Biotech at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. BlackRock Inc. increased its position in shares of Fortress Biotech by 6.6% during the second quarter. BlackRock Inc. now owns 1,903,033 shares of the biopharmaceutical company’s stock valued at $5,671,000 after buying an additional 117,290 shares during the period. Strs Ohio increased its position in shares of Fortress Biotech by 60.1% during the second quarter. Strs Ohio now owns 202,100 shares of the biopharmaceutical company’s stock valued at $602,000 after buying an additional 75,900 shares during the period. JPMorgan Chase & Co. increased its position in shares of Fortress Biotech by 264.5% during the third quarter. JPMorgan Chase & Co. now owns 200,886 shares of the biopharmaceutical company’s stock valued at $321,000 after buying an additional 145,766 shares during the period. Acadian Asset Management LLC purchased a new position in shares of Fortress Biotech during the second quarter valued at about $460,000. Finally, Macquarie Group Ltd. increased its position in shares of Fortress Biotech by 109.0% during the second quarter. Macquarie Group Ltd. now owns 97,982 shares of the biopharmaceutical company’s stock valued at $292,000 after buying an additional 51,100 shares during the period. Hedge funds and other institutional investors own 14.87% of the company’s stock.

Several equities analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Fortress Biotech from a “sell” rating to a “hold” rating in a research report on Friday, August 10th. HC Wainwright set a $11.00 price objective on shares of Fortress Biotech and gave the stock a “buy” rating in a research note on Friday, August 10th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Fortress Biotech currently has a consensus rating of “Buy” and an average target price of $10.67.

In related news, CFO Robyn Hunter sold 20,370 shares of the business’s stock in a transaction dated Friday, November 23rd. The shares were sold at an average price of $1.29, for a total transaction of $26,277.30. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 34.70% of the company’s stock.

NASDAQ:FBIO opened at $1.14 on Friday. Fortress Biotech has a one year low of $0.83 and a one year high of $5.54. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.24 and a current ratio of 2.25.

Fortress Biotech (NASDAQ:FBIO) last posted its quarterly earnings data on Friday, November 9th. The biopharmaceutical company reported ($0.37) EPS for the quarter, topping the consensus estimate of ($0.55) by $0.18. Fortress Biotech had a negative net margin of 30.52% and a negative return on equity of 68.16%. The business had revenue of $63.69 million for the quarter, compared to analyst estimates of $64.88 million. On average, sell-side analysts forecast that Fortress Biotech will post -2.03 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “Cpwm LLC Takes $274,000 Position in Fortress Biotech (FBIO)” was originally posted by BBNS and is the property of of BBNS. If you are reading this article on another website, it was stolen and republished in violation of U.S. and international copyright & trademark law. The legal version of this article can be viewed at https://baseballnewssource.com/2018/12/08/cpwm-llc-takes-274000-position-in-fortress-biotech-fbio/3064107.html.

About Fortress Biotech

Fortress Biotech, Inc develops and commercializes pharmaceutical and biotechnology products. The company develops CNDO-109, a lysate that treats cancer-related and other conditions; tramadol HCl for managing postoperative pain; CAEL-101 for the treatment of amyloid light chain amyloidosis; and CEVA101 for severe traumatic brain injury in children and adults in the United States.

Further Reading: How much money do you need to begin day trading?

Want to see what other hedge funds are holding FBIO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fortress Biotech (NASDAQ:FBIO).

Institutional Ownership by Quarter for Fortress Biotech (NASDAQ:FBIO)

Receive News & Ratings for Fortress Biotech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortress Biotech and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


Leave a Reply

 
© 2006-2018 BBNS.