180 Wealth Advisors LLC Takes Position in Fortress Biotech, Inc. (NASDAQ:FBIO)

180 Wealth Advisors LLC purchased a new position in shares of Fortress Biotech, Inc. (NASDAQ:FBIO) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 62,350 shares of the biopharmaceutical company’s stock, valued at approximately $107,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of FBIO. Gladstone Institutional Advisory LLC purchased a new stake in shares of Fortress Biotech in the fourth quarter valued at about $36,000. Virtu Financial LLC purchased a new stake in Fortress Biotech during the 1st quarter valued at approximately $31,000. PFG Investments LLC purchased a new stake in Fortress Biotech during the 1st quarter valued at approximately $33,000. Choreo LLC acquired a new stake in Fortress Biotech during the 4th quarter worth approximately $109,000. Finally, PVG Asset Management Corp purchased a new position in shares of Fortress Biotech in the 4th quarter valued at approximately $396,000. 96.51% of the stock is owned by hedge funds and other institutional investors.

Fortress Biotech Price Performance

Shares of FBIO traded up $0.09 during trading hours on Thursday, reaching $1.90. The company had a trading volume of 413,933 shares, compared to its average volume of 311,420. The company has a current ratio of 1.33, a quick ratio of 1.21 and a debt-to-equity ratio of 38.42. Fortress Biotech, Inc. has a 12-month low of $1.24 and a 12-month high of $7.35. The firm has a 50 day simple moving average of $1.92 and a 200-day simple moving average of $1.89. The company has a market capitalization of $38.78 million, a price-to-earnings ratio of -0.31 and a beta of 1.74.

Fortress Biotech (NASDAQ:FBIO) last issued its earnings results on Tuesday, August 13th. The biopharmaceutical company reported ($0.73) earnings per share for the quarter, topping the consensus estimate of ($1.32) by $0.59. The company had revenue of $14.90 million for the quarter, compared to analyst estimates of $14.97 million. Research analysts expect that Fortress Biotech, Inc. will post -5.07 earnings per share for the current year.

Wall Street Analysts Forecast Growth

FBIO has been the subject of several recent research reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Fortress Biotech in a report on Thursday, June 20th. StockNews.com upgraded shares of Fortress Biotech from a “sell” rating to a “hold” rating in a research note on Wednesday. HC Wainwright reissued a “buy” rating and set a $24.00 price target on shares of Fortress Biotech in a report on Friday, July 19th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Fortress Biotech in a report on Thursday, May 16th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Fortress Biotech has a consensus rating of “Moderate Buy” and a consensus price target of $28.50.

Insider Activity at Fortress Biotech

In other news, CEO Lindsay A. Md Rosenwald bought 5,000 shares of the firm’s stock in a transaction on Monday, July 8th. The shares were bought at an average cost of $7.35 per share, for a total transaction of $36,750.00. Following the completion of the transaction, the chief executive officer now owns 117,500 shares in the company, valued at $863,625. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Fortress Biotech news, CEO Lindsay A. Md Rosenwald bought 5,000 shares of the business’s stock in a transaction on Monday, July 8th. The stock was bought at an average price of $7.35 per share, for a total transaction of $36,750.00. Following the completion of the transaction, the chief executive officer now owns 117,500 shares in the company, valued at approximately $863,625. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Lindsay A. Md Rosenwald purchased 20,000 shares of the stock in a transaction dated Friday, June 28th. The stock was acquired at an average price of $1.64 per share, for a total transaction of $32,800.00. Following the completion of the transaction, the chief executive officer now directly owns 2,893,905 shares of the company’s stock, valued at $4,746,004.20. The disclosure for this purchase can be found here. Insiders bought 30,500 shares of company stock valued at $110,700 in the last ninety days. Corporate insiders own 33.40% of the company’s stock.

Fortress Biotech 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.