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

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

Fortress Biotech Trading Down 2.1 %

FBIO traded down $0.04 during trading hours on Monday, hitting $1.87. 312,403 shares of the company’s stock were exchanged, compared to its average volume of 644,341. Fortress Biotech has a 12-month low of $1.36 and a 12-month high of $2.89. The firm has a market cap of $51.62 million, a P/E ratio of -0.61 and a beta of 1.67. The firm has a 50 day moving average of $1.92 and a 200 day moving average of $1.88.

Analysts Set New Price Targets

A number of research firms recently weighed in on FBIO. StockNews.com cut shares of Fortress Biotech from a “hold” rating to a “sell” rating in a research report on Friday, November 15th. HC Wainwright lifted 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 equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $13.67.

Institutional Trading of Fortress Biotech

A number of large investors have recently modified their holdings of the stock. Geode Capital Management LLC increased its holdings in Fortress Biotech by 28.8% during 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. PVG Asset Management Corp acquired a new position in Fortress Biotech during the 2nd quarter worth approximately $266,000. Atria Investments Inc raised its holdings in shares of 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. Integrated Wealth Concepts LLC grew its stake in shares of Fortress Biotech by 68.2% during the third 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. Finally, Shikiar Asset Management Inc. boosted its position in shares of Fortress Biotech by 4.4% during the 3rd quarter. Shikiar Asset Management Inc. now owns 235,969 shares of the biopharmaceutical company’s stock worth $342,000 after acquiring an additional 10,000 shares in the last quarter. Hedge funds and other institutional investors own 96.51% of the company’s stock.

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.