Fortress Biotech, Inc. (NASDAQ:FBIO) Short Interest Update

Fortress Biotech, Inc. (NASDAQ:FBIO) was the target of a significant growth in short interest in December. As of December 31st, there was short interest totalling 3,400,000 shares, a growth of 9.3% from the December 15th total of 3,110,000 shares. Based on an average daily trading volume, of 653,000 shares, the days-to-cover ratio is presently 5.2 days. Approximately 17.2% of the shares of the stock are short sold.

Hedge Funds Weigh In On Fortress Biotech

A number of institutional investors have recently bought and sold shares of FBIO. Weaver Consulting Group increased its holdings in shares of Fortress Biotech by 33.0% during the 4th quarter. Weaver Consulting Group now owns 22,998 shares of the biopharmaceutical company’s stock worth $47,000 after buying an additional 5,700 shares during the last quarter. Shikiar Asset Management Inc. grew its position in Fortress Biotech by 4.4% in the third quarter. Shikiar Asset Management Inc. now owns 235,969 shares of the biopharmaceutical company’s stock worth $342,000 after acquiring an additional 10,000 shares during the period. 180 Wealth Advisors LLC increased its stake in Fortress Biotech by 19.0% during the fourth quarter. 180 Wealth Advisors LLC now owns 81,300 shares of the biopharmaceutical company’s stock worth $165,000 after acquiring an additional 13,000 shares during the last quarter. Integrated Wealth Concepts LLC raised its position in Fortress Biotech by 68.2% in the third quarter. Integrated Wealth Concepts LLC now owns 46,100 shares of the biopharmaceutical company’s stock valued at $67,000 after purchasing an additional 18,700 shares during the period. Finally, Atria Investments Inc lifted its stake in shares of Fortress Biotech by 58.4% in the 3rd 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 during the last quarter. 96.51% of the stock is owned by hedge funds and other institutional investors.

Fortress Biotech Stock Performance

Shares of FBIO stock traded down $0.04 on Monday, hitting $1.87. 312,403 shares of the stock traded hands, compared to its average volume of 644,341. Fortress Biotech has a twelve month low of $1.36 and a twelve month high of $2.89. The firm’s 50-day moving average price is $1.92 and its two-hundred day moving average price is $1.88. The stock has a market capitalization of $51.62 million, a PE ratio of -0.61 and a beta of 1.67.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on FBIO shares. StockNews.com downgraded shares of Fortress Biotech from a “hold” rating to a “sell” rating in a research note on Friday, November 15th. HC Wainwright raised their target price on shares of Fortress Biotech from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $13.67.

Fortress Biotech Company 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.