HB Wealth Management LLC increased its holdings in Fortress Biotech, Inc. (NASDAQ:FBIO – Free Report) by 93.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 106,850 shares of the biopharmaceutical company’s stock after acquiring an additional 51,517 shares during the period. HB Wealth Management LLC’s holdings in Fortress Biotech were worth $232,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. 180 Wealth Advisors LLC boosted its position in Fortress Biotech by 19.0% during the fourth quarter. 180 Wealth Advisors LLC now owns 81,300 shares of the biopharmaceutical company’s stock valued at $165,000 after buying an additional 13,000 shares during the period. Weaver Consulting Group boosted its holdings in Fortress Biotech by 33.0% during the 4th quarter. Weaver Consulting Group now owns 22,998 shares of the biopharmaceutical company’s stock valued at $47,000 after acquiring an additional 5,700 shares during the period. PVG Asset Management Corp grew its position in Fortress Biotech by 140.1% during the 3rd quarter. PVG Asset Management Corp now owns 373,790 shares of the biopharmaceutical company’s stock worth $540,000 after acquiring an additional 218,115 shares during the last quarter. Geode Capital Management LLC increased its stake in Fortress Biotech by 28.8% in the 3rd quarter. Geode Capital Management LLC now owns 168,607 shares of the biopharmaceutical company’s stock worth $244,000 after purchasing an additional 37,736 shares during the period. Finally, Integrated Wealth Concepts LLC lifted its position in Fortress Biotech by 68.2% in the third quarter. Integrated Wealth Concepts LLC now owns 46,100 shares of the biopharmaceutical company’s stock valued at $67,000 after purchasing an additional 18,700 shares during the last quarter. Institutional investors own 96.51% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts recently commented on the stock. StockNews.com downgraded shares of Fortress Biotech from a “hold” rating to a “sell” rating in a research note 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 analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $13.67.
Fortress Biotech Stock Performance
Shares of NASDAQ FBIO opened at $1.82 on Friday. The firm has a fifty day simple moving average of $1.94 and a two-hundred day simple moving average of $1.88. Fortress Biotech, Inc. has a 12 month low of $1.36 and a 12 month high of $2.89. The firm has a market capitalization of $50.24 million, a PE ratio of -0.60 and a beta of 1.67.
Fortress Biotech 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.
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