Fortress Biotech, Inc. (NASDAQ:FBIOP) Sees Significant Drop in Short Interest

Fortress Biotech, Inc. (NASDAQ:FBIOP) was the target of a significant drop in short interest during the month of April. As of April 30th, there was short interest totaling 46 shares, a drop of 95.6% from the April 15th total of 1,041 shares. Based on an average daily volume of 10,444 shares, the days-to-cover ratio is presently 0.0 days.

Fortress Biotech Price Performance

FBIOP stock traded up $0.06 during trading on Monday, hitting $13.56. 17,863 shares of the company’s stock traded hands, compared to its average volume of 20,942. Fortress Biotech has a 52 week low of $5.99 and a 52 week high of $14.64. The business has a fifty day simple moving average of $13.67 and a 200 day simple moving average of $10.92.

Fortress Biotech Company Profile

Fortress Biotech, Inc (NASDAQ: FBIOP) is a biopharmaceutical company that acquires, develops and commercializes innovative therapeutics for the treatment of patients with serious diseases. Operating as a biotech accelerator, Fortress Biotech partners with experienced management teams to advance products from early-stage discovery through regulatory approval and commercial launch. Its diversified portfolio spans multiple therapeutic areas, including oncology, rare diseases, dermatology, ophthalmology and neuromuscular disorders.

The company’s business model centers on establishing and funding product-centric subsidiary companies, each focused on a specific drug candidate or therapy.