Lindsay A. Md Rosenwald Buys 1,567,515 Shares of Fortress Biotech, Inc. (NASDAQ:FBIO) Stock

Fortress Biotech, Inc. (NASDAQ:FBIO) CEO Lindsay A. Md Rosenwald acquired 1,567,515 shares of the company’s stock in a transaction dated Tuesday, November 14th. The shares were bought at an average cost of $1.70 per share, with a total value of $2,664,775.50. Following the purchase, the chief executive officer now owns 2,597,440 shares of the company’s stock, valued at approximately $4,415,648. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Fortress Biotech Price Performance

FBIO opened at $2.09 on Friday. The stock has a fifty day simple moving average of $3.28 and a two-hundred day simple moving average of $6.54. The company has a current ratio of 1.00, a quick ratio of 0.90 and a debt-to-equity ratio of 4.62. The company has a market cap of $18.55 million, a price-to-earnings ratio of -0.17 and a beta of 2.07. Fortress Biotech, Inc. has a 12-month low of $1.24 and a 12-month high of $17.40.

Hedge Funds Weigh In On Fortress Biotech

A number of institutional investors have recently added to or reduced their stakes in FBIO. Jefferies Financial Group Inc. bought a new position in Fortress Biotech in the fourth quarter worth $2,816,000. Renaissance Technologies LLC grew its stake in shares of Fortress Biotech by 1,005.2% in the first quarter. Renaissance Technologies LLC now owns 1,101,300 shares of the biopharmaceutical company’s stock worth $1,498,000 after acquiring an additional 1,001,653 shares during the last quarter. CI Private Wealth LLC purchased a new stake in shares of Fortress Biotech in the fourth quarter worth $519,000. Millennium Management LLC grew its stake in shares of Fortress Biotech by 569.9% in the second quarter. Millennium Management LLC now owns 876,193 shares of the biopharmaceutical company’s stock worth $736,000 after acquiring an additional 745,405 shares during the last quarter. Finally, Perkins Capital Management Inc. grew its stake in shares of Fortress Biotech by 72.5% in the first quarter. Perkins Capital Management Inc. now owns 1,419,013 shares of the biopharmaceutical company’s stock worth $1,164,000 after acquiring an additional 596,500 shares during the last quarter. Institutional investors own 18.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. StockNews.com lowered Fortress Biotech from a “hold” rating to a “sell” rating in a research note on Friday. Cantor Fitzgerald restated an “overweight” rating and set a $75.00 target price on shares of Fortress Biotech in a report on Tuesday, August 15th.

Fortress Biotech Company Profile

Fortress Biotech, Inc, a biopharmaceutical company, develops and commercializes pharmaceutical and biotechnology products. The company markets dermatology products, such as Ximino an oral minocycline drug for the treatment of moderate to severe acne; Targadox an oral doxycycline drug for adjunctive therapy for severe acne; Exelderm cream for antifungal intended for topical use; Qbrexza a medicated cloth towelette for the treatment of primary axillary hyperhidrosis; Amzeeq; Zilxi; and Accutane capsules for severe recalcitrant nodular acne.