Fortress Biotech, Inc. (NASDAQ:FBIO – Get Free Report)’s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $3.00 and traded as high as $3.45. Fortress Biotech shares last traded at $3.29, with a volume of 463,116 shares trading hands.
Wall Street Analyst Weigh In
FBIO has been the subject of a number of recent analyst reports. Citigroup reaffirmed a “buy” rating on shares of Fortress Biotech in a report on Monday, May 18th. Wall Street Zen upgraded Fortress Biotech from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 24th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Fortress Biotech in a research report on Wednesday, July 8th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $17.00.
Read Our Latest Stock Report on FBIO
Fortress Biotech Stock Performance
Fortress Biotech (NASDAQ:FBIO – Get Free Report) last posted its earnings results on Thursday, May 14th. The biopharmaceutical company reported $2.82 EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $3.04. Fortress Biotech had a net margin of 193.12% and a return on equity of 109.66%. The firm had revenue of $16.04 million for the quarter, compared to the consensus estimate of $16.34 million.
Hedge Funds Weigh In On Fortress Biotech
Several hedge funds have recently made changes to their positions in FBIO. XTX Topco Ltd acquired a new stake in shares of Fortress Biotech during the second quarter worth about $42,000. Osaic Holdings Inc. boosted its position in shares of Fortress Biotech by 18.4% in the 2nd quarter. Osaic Holdings Inc. now owns 32,379 shares of the biopharmaceutical company’s stock valued at $60,000 after purchasing an additional 5,034 shares during the period. Vanguard Group Inc. boosted its position in shares of Fortress Biotech by 11.4% in the 3rd quarter. Vanguard Group Inc. now owns 950,327 shares of the biopharmaceutical company’s stock valued at $3,511,000 after purchasing an additional 97,405 shares during the period. Two Sigma Investments LP boosted its position in shares of Fortress Biotech by 85.4% in the 3rd quarter. Two Sigma Investments LP now owns 84,981 shares of the biopharmaceutical company’s stock valued at $314,000 after purchasing an additional 39,149 shares during the period. Finally, Bank of America Corp DE grew its stake in Fortress Biotech by 923.3% during the 3rd quarter. Bank of America Corp DE now owns 7,122 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 6,426 shares during the last quarter. Hedge funds and other institutional investors own 96.51% of the company’s stock.
About Fortress Biotech
Fortress Biotech, Inc is a clinical‐stage biopharmaceutical company focused on acquiring, developing and commercializing novel pharmaceutical and biotechnology products. Headquartered in New York, the company operates through a network of majority‐owned subsidiaries that target areas of high unmet medical need, including oncology, rare diseases and dermatology. Fortress Biotech’s business model emphasizes in‐licensing or acquiring promising drug candidates and coordinating their development through specialized affiliate companies, allowing for flexible capital allocation and focused management of individual programs.
Through its portfolio of subsidiaries, Fortress Biotech advances a diversified pipeline spanning small molecules, biologics and cell therapies.
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