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

Fortress Biotech, Inc. (NASDAQ:FBIO) was the recipient of a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 3,400,000 shares, an increase of 9.3% from the December 15th total of 3,110,000 shares. Based on an average daily volume of 653,000 shares, the days-to-cover ratio is presently 5.2 days. Currently, 17.2% of the company’s stock are short sold.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of FBIO. Weaver Consulting Group increased its holdings in shares of Fortress Biotech by 33.0% in the fourth quarter. Weaver Consulting Group now owns 22,998 shares of the biopharmaceutical company’s stock valued at $47,000 after purchasing an additional 5,700 shares during the period. Shikiar Asset Management Inc. increased its stake in Fortress Biotech by 4.4% in the 3rd 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 period. 180 Wealth Advisors LLC raised its position in Fortress Biotech by 19.0% during the 4th quarter. 180 Wealth Advisors LLC now owns 81,300 shares of the biopharmaceutical company’s stock worth $165,000 after buying an additional 13,000 shares during the last quarter. Integrated Wealth Concepts LLC raised its position in Fortress Biotech by 68.2% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 46,100 shares of the biopharmaceutical company’s stock worth $67,000 after buying an additional 18,700 shares during the last quarter. Finally, Atria Investments Inc lifted its stake in shares of Fortress Biotech by 58.4% in the 3rd quarter. Atria Investments Inc now owns 71,484 shares of the biopharmaceutical company’s stock worth $103,000 after acquiring an additional 26,351 shares during the period. 96.51% of the stock is owned by hedge funds and other institutional investors.

Fortress Biotech Price Performance

Shares of FBIO traded down $0.04 during mid-day trading on Monday, reaching $1.87. 312,403 shares of the company’s stock were exchanged, compared to its average volume of 644,341. The business’s fifty day simple moving average is $1.92 and its 200-day simple moving average is $1.88. The stock has a market capitalization of $51.62 million, a PE ratio of -0.61 and a beta of 1.67. Fortress Biotech has a 52-week low of $1.36 and a 52-week high of $2.89.

Analyst Ratings Changes

FBIO has been the subject of several research analyst reports. StockNews.com cut shares of Fortress Biotech from a “hold” rating to a “sell” rating in a report on Friday, November 15th. HC Wainwright upped their price objective on shares of Fortress Biotech from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Monday, November 18th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $13.67.

Fortress Biotech Company Profile

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.