Fortress Biotech, Inc. (NASDAQ:FBIO) Shares Acquired by 180 Wealth Advisors LLC

180 Wealth Advisors LLC grew its holdings in Fortress Biotech, Inc. (NASDAQ:FBIO) by 19.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 81,300 shares of the biopharmaceutical company’s stock after buying an additional 13,000 shares during the quarter. 180 Wealth Advisors LLC’s holdings in Fortress Biotech were worth $165,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. PVG Asset Management Corp lifted its holdings in shares of Fortress Biotech by 140.1% in the 3rd quarter. PVG Asset Management Corp now owns 373,790 shares of the biopharmaceutical company’s stock valued at $540,000 after buying an additional 218,115 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 purchasing an additional 10,000 shares in 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 valued at $244,000 after purchasing an additional 37,736 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new position in Fortress Biotech in the 2nd quarter valued at approximately $207,000. Finally, Atria Investments Inc increased its stake in Fortress Biotech by 58.4% in the 3rd quarter. Atria Investments Inc now owns 71,484 shares of the biopharmaceutical company’s stock valued at $103,000 after purchasing an additional 26,351 shares in the last quarter. 96.51% of the stock is owned by institutional investors and hedge funds.

Fortress Biotech Stock Performance

Fortress Biotech stock opened at $1.88 on Thursday. The stock has a fifty day moving average of $1.91 and a two-hundred day moving average of $1.87. The company has a market capitalization of $51.90 million, a price-to-earnings ratio of -0.62 and a beta of 1.67. Fortress Biotech, Inc. has a fifty-two week low of $1.36 and a fifty-two week high of $2.89.

Analysts Set New Price Targets

FBIO has been the subject of several research analyst reports. 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 objective on Fortress Biotech from $24.00 to $26.00 and gave the company 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 given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average 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.