GSA Capital Partners LLP Lowers Stake in Fortress Biotech, Inc. (NASDAQ:FBIO)

GSA Capital Partners LLP cut its position in Fortress Biotech, Inc. (NASDAQ:FBIO) by 58.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 81,774 shares of the biopharmaceutical company’s stock after selling 113,505 shares during the quarter. GSA Capital Partners LLP’s holdings in Fortress Biotech were worth $118,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Virtu Financial LLC acquired a new position in Fortress Biotech in the 1st quarter valued at about $31,000. Atria Investments Inc grew its holdings in shares of Fortress Biotech by 58.4% in the third 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. 180 Wealth Advisors LLC purchased a new stake in Fortress Biotech during the 2nd quarter worth approximately $107,000. B. Riley Wealth Advisors Inc. acquired a new stake in Fortress Biotech during the 2nd quarter worth approximately $207,000. Finally, PVG Asset Management Corp purchased a new position in Fortress Biotech in the 2nd quarter valued at approximately $266,000. Hedge funds and other institutional investors own 96.51% of the company’s stock.

Insider Buying and Selling

In other news, CEO Lindsay A. Md Rosenwald purchased 763,359 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were acquired at an average cost of $1.84 per share, for a total transaction of $1,404,580.56. Following the completion of the purchase, the chief executive officer now directly owns 3,657,264 shares in the company, valued at $6,729,365.76. The trade was a 26.38 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 33.40% of the stock is currently owned by company insiders.

Fortress Biotech Price Performance

NASDAQ FBIO opened at $1.68 on Tuesday. The company has a fifty day moving average of $1.68 and a two-hundred day moving average of $1.83. Fortress Biotech, Inc. has a 1 year low of $1.36 and a 1 year high of $4.43. The company has a market capitalization of $46.37 million, a PE ratio of -0.55 and a beta of 1.75.

Wall Street Analyst Weigh In

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

Fortress Biotech 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.