Zacks Investment Research lowered shares of Fortress Biotech (NASDAQ:FBIO) from a buy rating to a hold rating in a research report sent to investors on Thursday.
According to Zacks, “Fortress Biotech, Inc. is a biopharmaceutical company. The company is engaged in acquiring, developing and commercializing novel pharmaceutical and biotechnology products. Fortress Biotech, Inc., formerly known as Coronado Biosciences, Inc., is based in NEW YORK, United States. “
FBIO opened at $1.18 on Thursday. Fortress Biotech has a 12 month low of $0.49 and a 12 month high of $5.54. The firm has a market cap of $68.58 million, a P/E ratio of -0.73 and a beta of 1.66. The company has a quick ratio of 2.24, a current ratio of 2.25 and a debt-to-equity ratio of 0.76.
In related news, SVP George Avgerinos sold 97,325 shares of the business’s stock in a transaction on Tuesday, December 11th. The stock was sold at an average price of $1.05, for a total transaction of $102,191.25. Following the completion of the transaction, the senior vice president now directly owns 255,170 shares of the company’s stock, valued at approximately $267,928.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Robyn Hunter sold 20,370 shares of the business’s stock in a transaction on Friday, November 23rd. The stock was sold at an average price of $1.29, for a total value of $26,277.30. The disclosure for this sale can be found here. Insiders own 34.70% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Macquarie Group Ltd. boosted its position in shares of Fortress Biotech by 109.0% during the 2nd quarter. Macquarie Group Ltd. now owns 97,982 shares of the biopharmaceutical company’s stock worth $292,000 after acquiring an additional 51,100 shares in the last quarter. Cpwm LLC acquired a new position in shares of Fortress Biotech during the 3rd quarter worth about $274,000. JPMorgan Chase & Co. boosted its position in shares of Fortress Biotech by 264.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 200,886 shares of the biopharmaceutical company’s stock worth $321,000 after acquiring an additional 145,766 shares in the last quarter. Opus Point Partners Management LLC acquired a new position in shares of Fortress Biotech during the 3rd quarter worth about $374,000. Finally, Renaissance Technologies LLC boosted its position in shares of Fortress Biotech by 222.4% during the 3rd quarter. Renaissance Technologies LLC now owns 378,218 shares of the biopharmaceutical company’s stock worth $605,000 after acquiring an additional 260,920 shares in the last quarter. 14.87% of the stock is owned by institutional investors and hedge funds.
Fortress Biotech Company Profile
Fortress Biotech, Inc develops and commercializes pharmaceutical and biotechnology products. The company develops CNDO-109, a lysate that treats cancer-related and other conditions; tramadol HCl for managing postoperative pain; CAEL-101 for the treatment of amyloid light chain amyloidosis; and CEVA101 for severe traumatic brain injury in children and adults in the United States.
Further Reading: Market Capitalization and Individual Investors
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