Short Interest in Fortress Biotech, Inc. (NASDAQ:FBIO) Rises By 6.8%

Fortress Biotech, Inc. (NASDAQ:FBIO) was the target of a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 1,720,000 shares, a growth of 6.8% from the August 15th total of 1,610,000 shares. Based on an average daily volume of 264,800 shares, the days-to-cover ratio is presently 6.5 days. Currently, 9.6% of the shares of the stock are short sold.

Fortress Biotech Stock Performance

Shares of NASDAQ FBIO remained flat at $1.92 during trading hours on Wednesday. The company had a trading volume of 246,041 shares, compared to its average volume of 299,174. The firm has a market capitalization of $39.19 million, a P/E ratio of -0.32 and a beta of 1.81. The company has a quick ratio of 1.24, a current ratio of 1.37 and a debt-to-equity ratio of 38.42. The company’s 50 day moving average price is $1.99 and its 200-day moving average price is $1.90. Fortress Biotech has a 1-year low of $1.24 and a 1-year high of $5.35.

Fortress Biotech (NASDAQ:FBIO) last announced its earnings results on Tuesday, August 13th. The biopharmaceutical company reported ($0.73) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.32) by $0.59. The company had revenue of $14.90 million for the quarter, compared to the consensus estimate of $14.97 million. As a group, analysts expect that Fortress Biotech will post -4.76 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. HC Wainwright reiterated a “buy” rating and issued a $24.00 target price on shares of Fortress Biotech in a report on Friday, July 19th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Fortress Biotech in a report on Thursday, June 20th. Finally, StockNews.com upgraded Fortress Biotech from a “sell” rating to a “hold” rating in a report on Wednesday, August 14th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $13.00.

Insider Buying and Selling

In other Fortress Biotech news, CEO Lindsay A. Md Rosenwald purchased 20,000 shares of the company’s stock in a transaction on Friday, June 28th. The shares were purchased at an average cost of $1.64 per share, for a total transaction of $32,800.00. Following the completion of the transaction, the chief executive officer now owns 2,893,905 shares in the company, valued at $4,746,004.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Lindsay A. Md Rosenwald acquired 20,000 shares of the business’s stock in a transaction on Friday, June 28th. The shares were purchased at an average price of $1.64 per share, for a total transaction of $32,800.00. Following the acquisition, the chief executive officer now owns 2,893,905 shares in the company, valued at $4,746,004.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Lindsay A. Md Rosenwald acquired 5,000 shares of the business’s stock in a transaction on Thursday, July 11th. The shares were bought at an average price of $7.48 per share, for a total transaction of $37,400.00. Following the acquisition, the chief executive officer now owns 127,500 shares in the company, valued at approximately $953,700. The disclosure for this purchase can be found here. Insiders purchased 30,500 shares of company stock valued at $110,700 over the last 90 days. 33.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Fortress Biotech

A number of large investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC acquired a new position in shares of Fortress Biotech in the first quarter valued at $31,000. Gladstone Institutional Advisory LLC acquired a new position in Fortress Biotech during the fourth quarter worth $36,000. 180 Wealth Advisors LLC acquired a new position in Fortress Biotech during the second quarter worth $107,000. B. Riley Wealth Advisors Inc. acquired a new position in Fortress Biotech during the second quarter worth $207,000. Finally, PVG Asset Management Corp acquired a new position in Fortress Biotech during the second quarter worth $266,000. Institutional investors own 96.51% of the company’s stock.

About Fortress Biotech

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.