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

Fortress Biotech, Inc. (NASDAQ:FBIO) saw a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 2,920,000 shares, a growth of 11.5% from the October 31st total of 2,620,000 shares. Approximately 13.3% of the company’s stock are short sold. Based on an average daily volume of 595,800 shares, the short-interest ratio is currently 4.9 days.

Insider Activity

In other news, CEO Lindsay A. Md Rosenwald purchased 763,359 shares of the stock in a transaction dated Monday, September 23rd. The stock was 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 owns 3,657,264 shares of the company’s stock, valued at approximately $6,729,365.76. The trade was a 26.38 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 33.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new stake in shares of Fortress Biotech in the first quarter valued at about $31,000. Integrated Wealth Concepts LLC lifted its holdings in Fortress Biotech by 68.2% during the third quarter. Integrated Wealth Concepts LLC now owns 46,100 shares of the biopharmaceutical company’s stock worth $67,000 after acquiring an additional 18,700 shares during the period. Atria Investments Inc increased its position in Fortress Biotech by 58.4% in the third quarter. Atria Investments Inc now owns 71,484 shares of the biopharmaceutical company’s stock worth $103,000 after buying an additional 26,351 shares during the last quarter. 180 Wealth Advisors LLC purchased a new position in shares of Fortress Biotech in the second quarter valued at $107,000. Finally, B. Riley Wealth Advisors Inc. purchased a new position in shares of Fortress Biotech in the second quarter valued at $207,000. 96.51% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on FBIO shares. 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. StockNews.com downgraded Fortress Biotech from a “hold” rating to a “sell” rating in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Fortress Biotech currently has a consensus rating of “Moderate Buy” and an average price target of $13.67.

Fortress Biotech Stock Performance

Shares of NASDAQ:FBIO traded down $0.11 during midday trading on Tuesday, reaching $2.19. The company’s stock had a trading volume of 637,184 shares, compared to its average volume of 560,107. The business’s fifty day simple moving average is $1.70 and its 200-day simple moving average is $1.83. Fortress Biotech has a fifty-two week low of $1.36 and a fifty-two week high of $4.43.

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.