Insider Buying: Fortress Biotech, Inc. (NASDAQ:FBIO) CEO Buys $17,600.00 in Stock

Fortress Biotech, Inc. (NASDAQ:FBIOGet Free Report) CEO Lindsay A. Md Rosenwald bought 10,000 shares of Fortress Biotech stock in a transaction on Thursday, May 16th. The stock was acquired at an average cost of $1.76 per share, for a total transaction of $17,600.00. Following the acquisition, the chief executive officer now owns 2,873,905 shares in the company, valued at approximately $5,058,072.80. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Fortress Biotech Trading Down 5.6 %

Shares of FBIO stock opened at $1.87 on Thursday. Fortress Biotech, Inc. has a 1-year low of $1.24 and a 1-year high of $10.65. The company has a current ratio of 1.33, a quick ratio of 1.21 and a debt-to-equity ratio of 38.42. The stock has a market cap of $37.24 million, a price-to-earnings ratio of -0.31 and a beta of 1.56. The stock has a 50-day moving average of $1.84 and a 200-day moving average of $2.08.

Fortress Biotech (NASDAQ:FBIOGet Free Report) last released its quarterly earnings results on Thursday, March 28th. The biopharmaceutical company reported ($0.53) earnings per share (EPS) for the quarter. Fortress Biotech had a negative return on equity of 770.86% and a negative net margin of 69.13%. The firm had revenue of $19.95 million for the quarter, compared to the consensus estimate of $14.46 million. On average, equities research analysts forecast that Fortress Biotech, Inc. will post -6.57 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on FBIO. Roth Mkm restated a “buy” rating and set a $10.00 price objective on shares of Fortress Biotech in a research report on Thursday, May 16th. Alliance Global Partners began coverage on shares of Fortress Biotech in a report on Tuesday, March 19th. They issued a “buy” rating and a $5.00 price objective for the company. Finally, raised shares of Fortress Biotech from a “sell” rating to a “hold” rating in a report on Thursday, May 16th.

View Our Latest Report on FBIO

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in FBIO. Choreo LLC bought a new stake in Fortress Biotech in the fourth quarter worth approximately $109,000. Wealth Management Partners LLC acquired a new stake in shares of Fortress Biotech during the 4th quarter worth approximately $60,000. PFG Investments LLC bought a new stake in shares of Fortress Biotech in the 1st quarter valued at $33,000. Shikiar Asset Management Inc. lifted its position in shares of Fortress Biotech by 21.8% during the 1st quarter. Shikiar Asset Management Inc. now owns 223,136 shares of the biopharmaceutical company’s stock valued at $446,000 after acquiring an additional 40,000 shares during the period. Finally, Virtu Financial LLC bought a new position in Fortress Biotech during the first quarter worth $31,000. 96.51% of the stock is owned by institutional investors.

About Fortress Biotech

(Get Free Report)

Fortress Biotech, Inc, a biopharmaceutical company, develops and commercializes pharmaceutical and biotechnology products. The company markets dermatology products, such as Ximino an oral minocycline drug for the treatment of moderate to severe acne; Targadox an oral doxycycline drug for adjunctive therapy for severe acne; Exelderm cream for antifungal intended for topical use; Qbrexza a medicated cloth towelette for the treatment of primary axillary hyperhidrosis; Amzeeq; Zilxi; and Accutane capsules for severe recalcitrant nodular acne.

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