Fortress Biotech (NASDAQ:FBIO) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a note issued to investors on Friday.
A number of other research analysts also recently issued reports on FBIO. HC Wainwright set a $11.00 price objective on shares of Fortress Biotech and gave the company a “buy” rating in a research report on Thursday, August 10th. Zacks Investment Research raised shares of Fortress Biotech from a “sell” rating to a “hold” rating in a research report on Tuesday, October 10th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $11.00.
Shares of Fortress Biotech (NASDAQ:FBIO) traded up $0.16 on Friday, hitting $4.01. 128,432 shares of the stock were exchanged, compared to its average volume of 72,443. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.69 and a quick ratio of 2.69. Fortress Biotech has a 1 year low of $1.88 and a 1 year high of $5.13.
In other Fortress Biotech news, CEO Lindsay A. Md Rosenwald bought 40,000 shares of the company’s stock in a transaction dated Monday, November 6th. The shares were purchased at an average price of $25.00 per share, for a total transaction of $1,000,000.00. Following the acquisition, the chief executive officer now owns 40,000 shares in the company, valued at approximately $1,000,000. The purchase was disclosed in a filing with the SEC, which is available at this link. Insiders own 33.30% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Rhumbline Advisers boosted its holdings in shares of Fortress Biotech by 2.8% during the 2nd quarter. Rhumbline Advisers now owns 38,846 shares of the biopharmaceutical company’s stock valued at $185,000 after buying an additional 1,075 shares in the last quarter. Parametric Portfolio Associates LLC boosted its stake in Fortress Biotech by 3.3% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 59,224 shares of the biopharmaceutical company’s stock worth $281,000 after purchasing an additional 1,913 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Fortress Biotech by 4.9% in the 1st quarter. Bank of New York Mellon Corp now owns 110,061 shares of the biopharmaceutical company’s stock worth $408,000 after purchasing an additional 5,170 shares in the last quarter. Northern Trust Corp boosted its stake in Fortress Biotech by 2.1% in the 2nd quarter. Northern Trust Corp now owns 386,435 shares of the biopharmaceutical company’s stock worth $1,836,000 after purchasing an additional 7,858 shares in the last quarter. Finally, National Asset Management Inc. boosted its stake in Fortress Biotech by 38.4% in the 2nd quarter. National Asset Management Inc. now owns 28,850 shares of the biopharmaceutical company’s stock worth $138,000 after purchasing an additional 8,000 shares in the last quarter. Hedge funds and other institutional investors own 12.05% of the company’s stock.
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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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