Fortress Biotech (NASDAQ:FBIO) Cut to Sell at StockNews.com

StockNews.com cut shares of Fortress Biotech (NASDAQ:FBIO) from a hold rating to a sell rating in a research note released on Friday.

Separately, HC Wainwright restated a “buy” rating and issued a $24.00 price objective on shares of Fortress Biotech in a report on Friday, July 19th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Fortress Biotech has a consensus rating of “Moderate Buy” and an average price target of $13.00.

Fortress Biotech Trading Down 8.9 %

Shares of FBIO opened at $1.43 on Friday. The stock has a 50-day moving average price of $1.71 and a 200-day moving average price of $1.83. Fortress Biotech has a 12-month low of $1.30 and a 12-month high of $4.43. The company has a market cap of $32.62 million, a PE ratio of -0.47 and a beta of 1.75.

Insiders Place Their Bets

In other news, CEO Lindsay A. Md Rosenwald bought 763,359 shares of Fortress Biotech stock in a transaction on Monday, September 23rd. The stock was acquired at an average price of $1.84 per share, with a total value of $1,404,580.56. Following the completion of the acquisition, the chief executive officer now directly owns 3,657,264 shares of the company’s stock, valued at $6,729,365.76. The trade was a 26.38 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 33.40% of the company’s stock.

Institutional Trading of Fortress Biotech

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Virtu Financial LLC acquired a new stake in shares of Fortress Biotech during the first quarter worth about $31,000. Integrated Wealth Concepts LLC grew its position 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 during the last quarter. Atria Investments Inc increased its position 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 acquiring an additional 26,351 shares during the period. 180 Wealth Advisors LLC acquired a new stake in shares of Fortress Biotech in the 2nd quarter worth $107,000. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in Fortress Biotech in the second quarter valued at about $207,000. 96.51% of the stock is owned by institutional investors and hedge funds.

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.