Fortress Biotech, Inc. (NASDAQ:FBIO) Stock Position Lifted by Russell Investments Group Ltd.

Russell Investments Group Ltd. lifted its holdings in Fortress Biotech, Inc. (NASDAQ:FBIO) by 38.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 199,508 shares of the biopharmaceutical company’s stock after purchasing an additional 55,419 shares during the quarter. Russell Investments Group Ltd. owned 0.21% of Fortress Biotech worth $711,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the company. BlackRock Inc. grew its stake in shares of Fortress Biotech by 2.9% in the first quarter. BlackRock Inc. now owns 4,856,371 shares of the biopharmaceutical company’s stock worth $17,143,000 after purchasing an additional 137,091 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Fortress Biotech by 25.5% in the first quarter. Geode Capital Management LLC now owns 1,170,459 shares of the biopharmaceutical company’s stock worth $4,131,000 after purchasing an additional 237,747 shares in the last quarter. Nuveen Asset Management LLC grew its stake in shares of Fortress Biotech by 1.7% in the first quarter. Nuveen Asset Management LLC now owns 263,501 shares of the biopharmaceutical company’s stock worth $930,000 after purchasing an additional 4,444 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Fortress Biotech by 80.4% in the first quarter. Goldman Sachs Group Inc. now owns 225,654 shares of the biopharmaceutical company’s stock worth $796,000 after purchasing an additional 100,594 shares in the last quarter. Finally, Prudential Financial Inc. grew its stake in shares of Fortress Biotech by 224.7% in the first quarter. Prudential Financial Inc. now owns 184,955 shares of the biopharmaceutical company’s stock worth $653,000 after purchasing an additional 128,000 shares in the last quarter. 29.70% of the stock is owned by institutional investors.

NASDAQ FBIO opened at $3.15 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 4.54 and a quick ratio of 4.33. The company’s 50 day simple moving average is $3.20 and its 200 day simple moving average is $3.69. Fortress Biotech, Inc. has a 12 month low of $2.12 and a 12 month high of $6.10. The company has a market capitalization of $318.35 million, a P/E ratio of -7.68 and a beta of 2.46.

Fortress Biotech (NASDAQ:FBIO) last released its earnings results on Sunday, August 15th. The biopharmaceutical company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.15). Fortress Biotech had a negative return on equity of 15.34% and a negative net margin of 63.05%. The business had revenue of $17.84 million during the quarter, compared to the consensus estimate of $13.82 million. On average, analysts anticipate that Fortress Biotech, Inc. will post -0.39 earnings per share for the current year.

A number of research analysts recently issued reports on FBIO shares. Zacks Investment Research raised Fortress Biotech from a “sell” rating to a “hold” rating and set a $3.50 target price on the stock in a report on Tuesday, August 17th. B. Riley lowered their price objective on shares of Fortress Biotech from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Thursday, June 17th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $9.42.

About Fortress Biotech

Fortress Biotech, Inc engages in the manufacture and commercialization of novel pharmaceutical products and product candidates. It operates through the following Dermatology Product Sales and Pharmaceutical and Biotechnology Product Development segments. Its products include Ximino, Targadox, Exelderm, Ceracade, and Luxamend.

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Institutional Ownership by Quarter for Fortress Biotech (NASDAQ:FBIO)

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