Short Interest in Fortress Biotech, Inc. (NASDAQ:FBIO) Expands By 9.3%

Fortress Biotech, Inc. (NASDAQ:FBIO) was the target of a significant growth in short interest in the month of 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. Currently, 17.2% of the shares of the stock are short sold. Based on an average daily volume of 653,000 shares, the days-to-cover ratio is presently 5.2 days.

Fortress Biotech Stock Performance

NASDAQ FBIO traded down $0.04 on Friday, reaching $1.87. The company’s stock had a trading volume of 312,403 shares, 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 stock has a market cap of $51.61 million, a PE ratio of -0.61 and a beta of 1.67. The firm’s 50 day moving average is $1.92 and its two-hundred day moving average is $1.88.

Institutional Investors Weigh In On Fortress Biotech

A number of institutional investors and hedge funds have recently bought and sold shares of the business. HB Wealth Management LLC lifted its holdings in Fortress Biotech by 93.1% in the 4th quarter. HB Wealth Management LLC now owns 106,850 shares of the biopharmaceutical company’s stock valued at $232,000 after acquiring an additional 51,517 shares during the last quarter. 180 Wealth Advisors LLC lifted its holdings in Fortress Biotech by 19.0% in the 4th quarter. 180 Wealth Advisors LLC now owns 81,300 shares of the biopharmaceutical company’s stock valued at $165,000 after acquiring an additional 13,000 shares during the last quarter. Weaver Consulting Group raised its holdings in 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 period. PVG Asset Management Corp raised its holdings in Fortress Biotech by 140.1% during the 3rd quarter. PVG Asset Management Corp now owns 373,790 shares of the biopharmaceutical company’s stock worth $540,000 after buying an additional 218,115 shares during the period. Finally, Geode Capital Management LLC raised its holdings 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 period. 96.51% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

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.