Fortress Biotech, Inc. (NASDAQ:FBIO – Get Free Report) was the recipient of a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 1,880,000 shares, an increase of 8.7% from the March 15th total of 1,730,000 shares. Based on an average daily volume of 392,200 shares, the short-interest ratio is presently 4.8 days. Currently, 14.1% of the shares of the company are sold short.
Wall Street Analysts Forecast Growth
FBIO has been the subject of several recent analyst reports. Alliance Global Partners assumed coverage on Fortress Biotech in a report on Tuesday, March 19th. They issued a “buy” rating and a $5.00 price target for the company. Roth Mkm initiated coverage on shares of Fortress Biotech in a report on Friday, March 15th. They set a “buy” rating and a $10.00 price objective on the stock. Finally, StockNews.com downgraded shares of Fortress Biotech from a “hold” rating to a “sell” rating in a research report on Friday, April 12th.
Check Out Our Latest Stock Report on FBIO
Fortress Biotech Stock Performance
Hedge Funds Weigh In On Fortress Biotech
A number of institutional investors have recently modified their holdings of FBIO. Gladstone Institutional Advisory LLC acquired a new stake in shares of Fortress Biotech during the fourth quarter worth $36,000. Wealth Management Partners LLC acquired a new stake in Fortress Biotech in the 4th quarter worth about $60,000. Advisor Group Holdings Inc. grew its holdings in Fortress Biotech by 113.0% in the 1st quarter. Advisor Group Holdings Inc. now owns 20,020 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 10,620 shares during the period. Envestnet Asset Management Inc. purchased a new position in shares of Fortress Biotech during the 1st quarter worth about $33,000. Finally, Mirabella Financial Services LLP purchased a new stake in Fortress Biotech in the first quarter valued at approximately $42,000. Institutional investors and hedge funds own 96.51% of the company’s stock.
Fortress Biotech Company Profile
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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