Short Interest in Fortress Biotech, Inc. (NASDAQ:FBIO) Expands By 9.3%

Fortress Biotech, Inc. (NASDAQ:FBIO) was the target of a significant growth in short interest in the month of January. As of January 15th, there was short interest totalling 3,400,000 shares, a growth of 9.3% from the December 31st total of 3,110,000 shares. Currently, 17.2% of the company’s stock are sold short. Based on an average daily trading volume, of 653,000 shares, the days-to-cover ratio is currently 5.2 days.

Institutional Trading of Fortress Biotech

Institutional investors have recently made changes to their positions in the company. Weaver Consulting Group raised its stake in shares of Fortress Biotech by 33.0% during the fourth quarter. Weaver Consulting Group now owns 22,998 shares of the biopharmaceutical company’s stock valued at $47,000 after purchasing an additional 5,700 shares during the period. Integrated Wealth Concepts LLC increased its holdings in shares of Fortress Biotech by 68.2% in the third quarter. Integrated Wealth Concepts LLC now owns 46,100 shares of the biopharmaceutical company’s stock valued at $67,000 after buying an additional 18,700 shares in the last quarter. PFG Investments LLC raised its holdings in shares of Fortress Biotech by 82.8% during the fourth quarter. PFG Investments LLC now owns 35,259 shares of the biopharmaceutical company’s stock valued at $71,000 after acquiring an additional 15,968 shares during the period. Atria Investments Inc lifted its position in shares of Fortress Biotech by 58.4% in the third quarter. Atria Investments Inc now owns 71,484 shares of the biopharmaceutical company’s stock worth $103,000 after purchasing an additional 26,351 shares in the last quarter. Finally, 180 Wealth Advisors LLC increased its position 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 worth $165,000 after purchasing an additional 13,000 shares during the last quarter. 96.51% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FBIO has been the topic of a number of research analyst reports. HC Wainwright boosted their price target on Fortress Biotech from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. StockNews.com downgraded shares of Fortress Biotech from a “hold” rating to a “sell” rating in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.67.

Fortress Biotech Trading Up 0.3 %

Shares of Fortress Biotech stock opened at $1.83 on Tuesday. Fortress Biotech has a 12-month low of $1.36 and a 12-month high of $2.89. The company’s 50-day moving average price is $1.96 and its 200-day moving average price is $1.87. The company has a market cap of $50.37 million, a price-to-earnings ratio of -0.60 and a beta of 1.65.

About Fortress Biotech

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.