Fortress Biotech (NASDAQ:FBIO) Shares Pass Below 200 Day Moving Average – Should You Sell?

Fortress Biotech, Inc. (NASDAQ:FBIO)’s stock price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $3.05 and traded as low as $2.95. Fortress Biotech shares last traded at $2.99, with a volume of 388,743 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Zacks Research cut Fortress Biotech from a “strong-buy” rating to a “hold” rating in a report on Monday, March 16th. Citigroup reaffirmed a “buy” rating on shares of Fortress Biotech in a report on Monday, May 18th. Wall Street Zen raised Fortress Biotech from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 24th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Fortress Biotech in a research report on Friday, March 27th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Fortress Biotech currently has a consensus rating of “Hold” and an average target price of $17.00.

Fortress Biotech Stock Up 1.4%

The company has a debt-to-equity ratio of 0.18, a current ratio of 2.86 and a quick ratio of 2.77. The firm has a market capitalization of $99.32 million, a P/E ratio of 0.94 and a beta of 1.21. The company’s 50-day simple moving average is $2.71 and its two-hundred day simple moving average is $3.05.

Fortress Biotech (NASDAQ:FBIO) last posted its quarterly earnings data on Thursday, May 14th. The biopharmaceutical company reported $2.82 EPS for the quarter, topping the consensus estimate of ($0.22) by $3.04. The firm had revenue of $16.04 million during the quarter, compared to analyst estimates of $16.34 million. Fortress Biotech had a return on equity of 109.66% and a net margin of 193.12%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in FBIO. XTX Topco Ltd bought a new position in shares of Fortress Biotech during the 2nd quarter valued at approximately $42,000. Osaic Holdings Inc. lifted its holdings in Fortress Biotech by 18.4% during the second quarter. Osaic Holdings Inc. now owns 32,379 shares of the biopharmaceutical company’s stock valued at $60,000 after purchasing an additional 5,034 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Fortress Biotech by 11.4% during the third quarter. Vanguard Group Inc. now owns 950,327 shares of the biopharmaceutical company’s stock valued at $3,511,000 after purchasing an additional 97,405 shares in the last quarter. Two Sigma Investments LP boosted its position in shares of Fortress Biotech by 85.4% in the third quarter. Two Sigma Investments LP now owns 84,981 shares of the biopharmaceutical company’s stock worth $314,000 after purchasing an additional 39,149 shares during the period. Finally, Bank of America Corp DE boosted its position in shares of Fortress Biotech by 923.3% in the third quarter. Bank of America Corp DE now owns 7,122 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 6,426 shares during the period. 96.51% of the stock is owned by hedge funds and other institutional investors.

About Fortress Biotech

Fortress Biotech, Inc is a clinical‐stage biopharmaceutical company focused on acquiring, developing and commercializing novel pharmaceutical and biotechnology products. Headquartered in New York, the company operates through a network of majority‐owned subsidiaries that target areas of high unmet medical need, including oncology, rare diseases and dermatology. Fortress Biotech’s business model emphasizes in‐licensing or acquiring promising drug candidates and coordinating their development through specialized affiliate companies, allowing for flexible capital allocation and focused management of individual programs.

Through its portfolio of subsidiaries, Fortress Biotech advances a diversified pipeline spanning small molecules, biologics and cell therapies.