Rosalind Advisors Inc. Sells 104,969 Shares of Fortress Biotech, Inc. (NASDAQ:FBIO)

Rosalind Advisors Inc. cut its stake in shares of Fortress Biotech, Inc. (NASDAQ:FBIO) by 17.3% in the third quarter, Holdings Channel reports. The firm owned 502,828 shares of the biopharmaceutical company’s stock after selling 104,969 shares during the quarter. Fortress Biotech accounts for approximately 0.5% of Rosalind Advisors Inc.’s holdings, making the stock its 23rd biggest holding. Rosalind Advisors Inc.’s holdings in Fortress Biotech were worth $727,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Acadian Asset Management LLC grew its position in shares of Fortress Biotech by 124.3% during the 1st quarter. Acadian Asset Management LLC now owns 292,058 shares of the biopharmaceutical company’s stock worth $582,000 after buying an additional 161,870 shares during the period. PVG Asset Management Corp acquired a new stake in shares of Fortress Biotech in the 2nd quarter valued at approximately $266,000. B. Riley Wealth Advisors Inc. bought a new position in Fortress Biotech during the 2nd quarter worth approximately $207,000. 180 Wealth Advisors LLC acquired a new position in Fortress Biotech during the second quarter valued at approximately $107,000. Finally, Virtu Financial LLC bought a new stake in Fortress Biotech in the first quarter valued at approximately $31,000. Institutional investors own 96.51% of the company’s stock.

Insider Transactions at Fortress Biotech

In other news, CEO Lindsay A. Md Rosenwald bought 763,359 shares of the stock in a transaction dated Monday, September 23rd. The shares were bought at an average price of $1.84 per share, for a total transaction of $1,404,580.56. Following the completion of the purchase, the chief executive officer now owns 3,657,264 shares in the company, valued at approximately $6,729,365.76. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 33.40% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on FBIO. StockNews.com raised Fortress Biotech from a “sell” rating to a “hold” rating in a research note on Wednesday, August 14th. HC Wainwright restated a “buy” rating and set a $24.00 target price on shares of Fortress Biotech in a report on Friday, July 19th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Fortress Biotech currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.00.

Fortress Biotech Price Performance

Shares of FBIO opened at $1.77 on Wednesday. Fortress Biotech, Inc. has a one year low of $1.24 and a one year high of $4.43. The company has a market cap of $40.27 million, a PE ratio of -0.49 and a beta of 1.75. The firm has a 50-day moving average of $1.76 and a 200-day moving average of $1.84.

Fortress Biotech (NASDAQ:FBIO) last released its quarterly earnings data on Tuesday, August 13th. The biopharmaceutical company reported ($0.73) EPS for the quarter, topping analysts’ consensus estimates of ($1.32) by $0.59. The company had revenue of $14.90 million for the quarter, compared to the consensus estimate of $14.97 million. Analysts expect that Fortress Biotech, Inc. will post -2.65 earnings per share for the current year.

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.