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

Fortress Biotech, Inc. (NASDAQ:FBIO) was the recipient of a significant growth in short interest in the month of June. As of June 30th, there was short interest totalling 1,660,000 shares, a growth of 7.8% from the June 15th total of 1,540,000 shares. Based on an average trading volume of 180,700 shares, the short-interest ratio is presently 9.2 days. Currently, 11.0% of the company’s stock are sold short.

Analysts Set New Price Targets

A number of research firms have issued reports on FBIO. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Fortress Biotech in a report on Thursday, June 20th. StockNews.com raised shares of Fortress Biotech from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, Roth Mkm reiterated a “buy” rating and issued a $10.00 price objective on shares of Fortress Biotech in a research note on Thursday, May 16th.

Fortress Biotech Stock Performance

Shares of Fortress Biotech stock traded up $0.12 during trading hours on Thursday, hitting $2.14. 173,946 shares of the company’s stock traded hands, compared to its average volume of 302,925. The stock has a market capitalization of $43.68 million, a price-to-earnings ratio of -0.35 and a beta of 1.74. Fortress Biotech has a 12-month low of $1.24 and a 12-month high of $10.35. The company has a debt-to-equity ratio of 38.42, a current ratio of 1.33 and a quick ratio of 1.21. The company has a fifty day simple moving average of $1.82 and a 200-day simple moving average of $1.90.

Fortress Biotech (NASDAQ:FBIO) last posted its quarterly earnings data on Wednesday, May 15th. The biopharmaceutical company reported ($1.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.03) by $1.00. The company had revenue of $13.03 million for the quarter, compared to analysts’ expectations of $14.33 million. Equities research analysts anticipate that Fortress Biotech will post -5.07 EPS for the current fiscal year.

Insider Buying and Selling at Fortress Biotech

In other news, CEO Lindsay A. Md Rosenwald bought 5,000 shares of the stock in a transaction dated Monday, July 8th. The shares were bought at an average cost of $7.35 per share, with a total value of $36,750.00. Following the completion of the transaction, the chief executive officer now directly owns 117,500 shares of the company’s stock, valued at $863,625. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Lindsay A. Md Rosenwald acquired 20,000 shares of the stock in a transaction dated Friday, June 28th. The stock was purchased at an average cost of $1.64 per share, with a total value of $32,800.00. Following the completion of the purchase, the chief executive officer now directly owns 2,893,905 shares in the company, valued at approximately $4,746,004.20. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Lindsay A. Md Rosenwald bought 5,000 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The shares were bought at an average cost of $7.35 per share, for a total transaction of $36,750.00. Following the transaction, the chief executive officer now owns 117,500 shares of the company’s stock, valued at $863,625. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 40,500 shares of company stock valued at $128,300. Company insiders own 33.40% of the company’s stock.

Institutional Investors Weigh In On Fortress Biotech

Several large investors have recently modified their holdings of the stock. Armistice Capital LLC purchased a new stake in Fortress Biotech in the fourth quarter worth $1,794,000. Acadian Asset Management LLC boosted its holdings in shares of Fortress Biotech by 124.3% in the first quarter. Acadian Asset Management LLC now owns 292,058 shares of the biopharmaceutical company’s stock worth $582,000 after acquiring an additional 161,870 shares during the period. Shikiar Asset Management Inc. grew its position in shares of Fortress Biotech by 21.8% in the first quarter. Shikiar Asset Management Inc. now owns 223,136 shares of the biopharmaceutical company’s stock valued at $446,000 after purchasing an additional 40,000 shares in the last quarter. PVG Asset Management Corp bought a new stake in shares of Fortress Biotech during the 4th quarter valued at $396,000. Finally, 180 Wealth Advisors LLC purchased a new stake in Fortress Biotech during the 2nd quarter worth about $107,000. Hedge funds and other institutional investors own 96.51% of the company’s stock.

Fortress Biotech Company Profile

Fortress Biotech, Inc, a biopharmaceutical company, develops and commercializes pharmaceutical and biotechnology products. The company markets dermatology products, such as Ximino an oral minocycline drug for the treatment of moderate to severe acne; Targadox an oral doxycycline drug for adjunctive therapy for severe acne; Exelderm cream for antifungal intended for topical use; Qbrexza a medicated cloth towelette for the treatment of primary axillary hyperhidrosis; Amzeeq; Zilxi; and Accutane capsules for severe recalcitrant nodular acne.