Fortress Biotech Inc. (FBIO) Shares Up 7.3%
Shares of Fortress Biotech Inc. (NASDAQ:FBIO) shot up 7.3% during mid-day trading on Tuesday . The stock traded as high as $2.84 and last traded at $2.81, with a volume of 116,576 shares. The stock had previously closed at $2.62.
Separately, FBR & Co reissued an “outperform” rating on shares of Fortress Biotech in a report on Wednesday, July 20th.
The firm’s market cap is $136.76 million. The firm’s 50 day moving average is $2.76 and its 200 day moving average is $2.98.
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Fortress Biotech (NASDAQ:FBIO) last posted its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by $0.02. Fortress Biotech had a negative return on equity of 79.62% and a negative net margin of 1,687.06%. On average, analysts expect that Fortress Biotech Inc. will post ($1.03) earnings per share for the current fiscal year.
In other news, SVP George Avgerinos sold 48,912 shares of Fortress Biotech stock in a transaction dated Friday, September 16th. The stock was sold at an average price of $2.55, for a total value of $124,725.60. Following the transaction, the senior vice president now directly owns 293,000 shares in the company, valued at $747,150. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 31.54% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of the company. Parametric Portfolio Associates LLC raised its position in Fortress Biotech by 0.6% in the second quarter. Parametric Portfolio Associates LLC now owns 57,196 shares of the biopharmaceutical company’s stock worth $154,000 after buying an additional 344 shares during the last quarter. ClariVest Asset Management LLC raised its position in shares of Fortress Biotech by 53.6% in the second quarter. ClariVest Asset Management LLC now owns 117,719 shares of the biopharmaceutical company’s stock valued at $316,000 after buying an additional 41,100 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Fortress Biotech by 369.1% in the first quarter. Goldman Sachs Group Inc. now owns 57,548 shares of the biopharmaceutical company’s stock valued at $178,000 after buying an additional 45,280 shares in the last quarter. Landscape Capital Management L.L.C. raised its position in shares of Fortress Biotech by 208.0% in the first quarter. Landscape Capital Management L.L.C. now owns 69,290 shares of the biopharmaceutical company’s stock valued at $215,000 after buying an additional 46,790 shares in the last quarter. Finally, Teachers Advisors Inc. purchased a new position in shares of Fortress Biotech during the second quarter valued at about $146,000. Institutional investors and hedge funds own 16.67% of the company’s stock.
Fortress Biotech Company Profile
Fortress Biotech, Inc, formerly Coronado Biosciences, Inc, is a biopharmaceutical company. The Company is involved in the development of immunotherapy agents for the treatment of autoimmune diseases and cancer. Its sole product candidate is CNDO-109. The Company is also focused on acquiring, developing and commercializing pharmaceutical and biotechnology products.
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