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

Fortress Biotech, Inc. (NASDAQ:FBIO) was the recipient of a large growth in short interest in 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. Based on an average trading volume of 595,800 shares, the short-interest ratio is presently 4.9 days. Approximately 13.3% of the company’s stock are sold short.

Fortress Biotech Price Performance

NASDAQ FBIO traded down $0.11 on Tuesday, hitting $2.19. 637,184 shares of the company traded hands, compared to its average volume of 560,107. The business’s 50 day moving average price is $1.70 and its 200-day moving average price is $1.83. Fortress Biotech has a 52-week low of $1.36 and a 52-week high of $4.43.

Insider Transactions at Fortress Biotech

In other news, CEO Lindsay A. Md Rosenwald purchased 763,359 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were purchased at an average cost of $1.84 per share, for a total transaction of $1,404,580.56. Following the purchase, the chief executive officer now directly owns 3,657,264 shares in the company, valued at approximately $6,729,365.76. This represents a 26.38 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 33.40% of the company’s stock.

Institutional Investors Weigh In On Fortress Biotech

Institutional investors and hedge funds have recently bought and sold shares of the business. Virtu Financial LLC bought a new stake in shares of Fortress Biotech in the first quarter worth about $31,000. PVG Asset Management Corp purchased a new position in shares of Fortress Biotech during the second quarter valued at approximately $266,000. Atria Investments Inc boosted its position in shares of Fortress Biotech by 58.4% during the third quarter. Atria Investments Inc now owns 71,484 shares of the biopharmaceutical company’s stock valued at $103,000 after buying an additional 26,351 shares during the period. Shikiar Asset Management Inc. boosted its position in shares of Fortress Biotech by 4.4% during the third 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. Finally, 180 Wealth Advisors LLC purchased a new position in shares of Fortress Biotech during the second quarter valued at approximately $107,000. 96.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. StockNews.com downgraded Fortress Biotech from a “hold” rating to a “sell” rating in a research note on Friday, November 15th. HC Wainwright raised their price target on Fortress Biotech from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target 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.