Short Interest in Fortress Biotech, Inc. (NASDAQ:FBIO) Grows By 9.3%

Fortress Biotech, Inc. (NASDAQ:FBIO) was the recipient of a large growth in short interest during the month of January. As of January 15th, there was short interest totalling 3,400,000 shares, a growth of 9.3% from the December 31st total of 3,110,000 shares. Approximately 17.2% of the company’s shares are sold short. Based on an average daily volume of 653,000 shares, the days-to-cover ratio is currently 5.2 days.

Fortress Biotech Stock Up 0.3 %

NASDAQ FBIO traded up $0.01 during trading on Monday, hitting $1.83. The stock had a trading volume of 271,764 shares, compared to its average volume of 425,398. The company has a market capitalization of $50.37 million, a PE ratio of -0.60 and a beta of 1.65. Fortress Biotech has a twelve month low of $1.36 and a twelve month high of $2.89. The firm has a 50 day moving average price of $1.96 and a 200 day moving average price of $1.87.

Institutional Investors Weigh In On Fortress Biotech

Large investors have recently added to or reduced their stakes in the business. Weaver Consulting Group grew its stake in shares of Fortress Biotech by 33.0% in the fourth quarter. Weaver Consulting Group now owns 22,998 shares of the biopharmaceutical company’s stock worth $47,000 after acquiring an additional 5,700 shares in the last quarter. PFG Investments LLC grew its stake in Fortress Biotech by 82.8% during the 4th quarter. PFG Investments LLC now owns 35,259 shares of the biopharmaceutical company’s stock worth $71,000 after purchasing an additional 15,968 shares in the last quarter. Integrated Wealth Concepts LLC grew its stake in Fortress Biotech by 68.2% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 46,100 shares of the biopharmaceutical company’s stock worth $67,000 after purchasing an additional 18,700 shares in the last quarter. Atria Investments Inc increased its holdings in Fortress Biotech by 58.4% during the 3rd quarter. Atria Investments Inc now owns 71,484 shares of the biopharmaceutical company’s stock worth $103,000 after purchasing an additional 26,351 shares during the period. Finally, 180 Wealth Advisors LLC raised its position in Fortress Biotech by 19.0% in the 4th quarter. 180 Wealth Advisors LLC now owns 81,300 shares of the biopharmaceutical company’s stock valued at $165,000 after purchasing an additional 13,000 shares in the last quarter. 96.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FBIO has been the subject of several research analyst reports. HC Wainwright increased their target price on shares of Fortress Biotech from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. StockNews.com cut shares of Fortress Biotech from a “hold” rating to a “sell” rating in a research report on Friday, November 15th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Fortress Biotech currently has a consensus rating of “Moderate Buy” and an average target price of $13.67.

About Fortress Biotech

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.