Fortress Biotech, Inc. (NASDAQ:FBIO) Sees Large Increase in Short Interest

Fortress Biotech, Inc. (NASDAQ:FBIO - Get Free Report) was the recipient of a large 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. Based on an average trading volume of 653,000 shares, the days-to-cover ratio is currently 5.2 days. Currently, 17.2% of the shares of the company are sold short.

Institutional Investors Weigh In On Fortress Biotech

A number of institutional investors have recently added to or reduced their stakes in the company. Weaver Consulting Group lifted its position in shares of Fortress Biotech by 33.0% in the 4th quarter. Weaver Consulting Group now owns 22,998 shares of the biopharmaceutical company's stock worth $47,000 after acquiring an additional 5,700 shares during the period. Integrated Wealth Concepts LLC lifted 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 worth $67,000 after purchasing an additional 18,700 shares during the period. Atria Investments Inc boosted its stake in Fortress Biotech by 58.4% during the third quarter. Atria Investments Inc now owns 71,484 shares of the biopharmaceutical company's stock worth $103,000 after buying an additional 26,351 shares in the last quarter. 180 Wealth Advisors LLC increased 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 buying an additional 13,000 shares during the period. Finally, HB Wealth Management LLC raised its stake in shares of 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 buying an additional 51,517 shares in the last quarter. 96.51% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on FBIO shares. StockNews.com cut shares of Fortress Biotech from a "hold" rating to a "sell" rating in a report on Friday, November 15th. HC Wainwright increased their target price on Fortress Biotech from $24.00 to $26.00 and gave the company a "buy" rating in a research note on Monday, November 18th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Fortress Biotech currently has a consensus rating of "Moderate Buy" and a consensus target price of $13.67.

Fortress Biotech Stock Down 2.1 %

NASDAQ FBIO traded down $0.04 during midday trading on Friday, hitting $1.87. The company had a trading volume of 312,403 shares, compared to its average volume of 644,341. The firm has a fifty day simple moving average of $1.92 and a two-hundred day simple moving average of $1.88. Fortress Biotech has a fifty-two week low of $1.36 and a fifty-two week high of $2.89. The stock has a market cap of $51.61 million, a price-to-earnings ratio of -0.61 and a beta of 1.67.

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.