Rosalind Advisors Inc. Sells 104,969 Shares of Fortress Biotech, Inc. (NASDAQ:FBIO)

Rosalind Advisors Inc. cut its position in shares of Fortress Biotech, Inc. (NASDAQ:FBIO) by 17.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 502,828 shares of the biopharmaceutical company’s stock after selling 104,969 shares during the quarter. Fortress Biotech accounts for 0.5% of Rosalind Advisors Inc.’s portfolio, making the stock its 23rd biggest holding. Rosalind Advisors Inc. owned approximately 2.46% of Fortress Biotech worth $727,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new stake in shares of Fortress Biotech during the 1st quarter worth approximately $31,000. 180 Wealth Advisors LLC acquired a new stake in Fortress Biotech during the second quarter worth $107,000. B. Riley Wealth Advisors Inc. bought a new stake in Fortress Biotech in the 2nd quarter valued at $207,000. PVG Asset Management Corp acquired a new position in shares of Fortress Biotech in the 2nd quarter valued at $266,000. Finally, Shikiar Asset Management Inc. raised its stake in shares of Fortress Biotech by 4.4% in the 3rd quarter. Shikiar Asset Management Inc. now owns 235,969 shares of the biopharmaceutical company’s stock valued at $342,000 after buying an additional 10,000 shares in the last quarter. 96.51% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

FBIO has been the topic of a number of analyst reports. StockNews.com raised shares of Fortress Biotech from a “sell” rating to a “hold” rating in a research note on Wednesday, August 14th. HC Wainwright reiterated a “buy” rating and issued a $24.00 price objective on shares of Fortress Biotech in a research note on Friday, July 19th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $13.00.

Insider Buying and Selling

In related news, CEO Lindsay A. Md Rosenwald acquired 763,359 shares of the stock in a transaction on Monday, September 23rd. The stock was purchased at an average price of $1.84 per share, for a total transaction of $1,404,580.56. Following the transaction, the chief executive officer now owns 3,657,264 shares of the company’s stock, valued at $6,729,365.76. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 33.40% of the stock is owned by corporate insiders.

Fortress Biotech Stock Up 2.0 %

Shares of FBIO stock opened at $1.77 on Wednesday. The company has a market capitalization of $40.27 million, a P/E ratio of -0.49 and a beta of 1.75. Fortress Biotech, Inc. has a 12-month low of $1.24 and a 12-month high of $4.43. The firm has a 50-day moving average price of $1.76 and a 200 day moving average price of $1.84.

Fortress Biotech (NASDAQ:FBIO) last posted its quarterly earnings data on Tuesday, August 13th. The biopharmaceutical company reported ($0.73) EPS for the quarter, topping analysts’ consensus estimates of ($1.32) by $0.59. The business had revenue of $14.90 million during the quarter, compared to analyst estimates of $14.97 million. As a group, research analysts expect that Fortress Biotech, Inc. will post -2.65 earnings per share for the current year.

Fortress Biotech 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.