Short Interest in Fortress Biotech, Inc. (NASDAQ:FBIO) Rises By 6.8%

Fortress Biotech, Inc. (NASDAQ:FBIO) saw a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 1,720,000 shares, a growth of 6.8% from the August 15th total of 1,610,000 shares. Based on an average daily volume of 264,800 shares, the short-interest ratio is currently 6.5 days. Approximately 9.6% of the shares of the stock are sold short.

Fortress Biotech Stock Performance

Shares of NASDAQ FBIO remained flat at $1.92 during mid-day trading on Wednesday. The stock had a trading volume of 246,041 shares, compared to its average volume of 299,174. The stock has a market capitalization of $39.19 million, a price-to-earnings ratio of -0.32 and a beta of 1.81. The company has a debt-to-equity ratio of 38.42, a current ratio of 1.37 and a quick ratio of 1.24. The firm’s fifty day moving average is $1.99 and its two-hundred day moving average is $1.90. Fortress Biotech has a 52 week low of $1.24 and a 52 week high of $5.35.

Fortress Biotech (NASDAQ:FBIO) last released its quarterly earnings results on Tuesday, August 13th. The biopharmaceutical company reported ($0.73) EPS for the quarter, topping analysts’ consensus estimates of ($1.32) by $0.59. The business had revenue of $14.90 million for the quarter, compared to analyst estimates of $14.97 million. Equities research analysts predict that Fortress Biotech will post -4.76 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Fortress Biotech

In other Fortress Biotech news, CEO Lindsay A. Md Rosenwald bought 20,000 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were bought at an average price of $1.64 per share, for a total transaction of $32,800.00. Following the completion of the acquisition, the chief executive officer now owns 2,893,905 shares of the company’s stock, valued at $4,746,004.20. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Lindsay A. Md Rosenwald purchased 5,000 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were acquired at an average price of $7.35 per share, for a total transaction of $36,750.00. Following the completion of the acquisition, the chief executive officer now directly owns 117,500 shares in the company, valued at $863,625. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Lindsay A. Md Rosenwald purchased 20,000 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was purchased at an average price of $1.64 per share, for a total transaction of $32,800.00. Following the acquisition, the chief executive officer now owns 2,893,905 shares of the company’s stock, valued at $4,746,004.20. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 30,500 shares of company stock worth $110,700. Insiders own 33.40% of the company’s stock.

Institutional Investors Weigh In On Fortress Biotech

Hedge funds have recently modified their holdings of the business. Acadian Asset Management LLC boosted its stake in shares of Fortress Biotech by 124.3% during the 1st 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. Gladstone Institutional Advisory LLC bought a new position in shares of Fortress Biotech during the 4th quarter worth approximately $36,000. Virtu Financial LLC bought a new position in shares of Fortress Biotech during the 1st quarter worth approximately $31,000. PVG Asset Management Corp bought a new position in shares of Fortress Biotech during the 4th quarter worth approximately $396,000. Finally, Armistice Capital LLC bought a new position in shares of Fortress Biotech during the 4th quarter worth approximately $1,794,000. Institutional investors and hedge funds 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.