Fortress Biotech (NASDAQ:FBIO) Share Price Crosses Above 200 Day Moving Average – Should You Sell?

Fortress Biotech, Inc. (NASDAQ:FBIO)’s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $1.85 and traded as high as $2.25. Fortress Biotech shares last traded at $2.03, with a volume of 593,040 shares changing hands.

Analysts Set New Price Targets

Several brokerages have recently issued reports on FBIO. HC Wainwright lifted their target price on Fortress Biotech from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Monday, November 18th. StockNews.com downgraded Fortress Biotech from a “hold” rating to a “sell” rating in a research note on Friday, November 15th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Fortress Biotech has a consensus rating of “Moderate Buy” and a consensus target price of $13.67.

Fortress Biotech Stock Performance

The firm’s fifty day moving average price is $1.87 and its 200 day moving average price is $1.85. The firm has a market cap of $58.52 million, a P/E ratio of -0.70 and a beta of 1.70.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Integrated Wealth Concepts LLC boosted its stake 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 acquiring an additional 18,700 shares in the last quarter. Atria Investments Inc lifted its holdings in shares of Fortress Biotech by 58.4% during 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. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Fortress Biotech in the 2nd quarter worth $207,000. Geode Capital Management LLC grew its stake in Fortress Biotech by 28.8% during the 3rd quarter. Geode Capital Management LLC now owns 168,607 shares of the biopharmaceutical company’s stock worth $244,000 after buying an additional 37,736 shares during the last quarter. Finally, PVG Asset Management Corp acquired a new position in Fortress Biotech during the 2nd quarter valued at about $266,000. Hedge funds and other institutional investors own 96.51% of the company’s stock.

About Fortress Biotech

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.