Separately, Cantor Fitzgerald restated an “overweight” rating and set a $75.00 price target on shares of Fortress Biotech in a research note on Tuesday, August 15th.
Fortress Biotech Stock Performance
Insider Buying and Selling
In other news, insider Michael S. Weiss bought 147,058 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The shares were acquired at an average price of $1.70 per share, with a total value of $249,998.60. Following the acquisition, the insider now owns 1,130,520 shares of the company’s stock, valued at approximately $1,921,884. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Lindsay A. Md Rosenwald purchased 1,567,515 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The shares were purchased at an average price of $1.70 per share, with a total value of $2,664,775.50. Following the acquisition, the chief executive officer now directly owns 2,597,440 shares of the company’s stock, valued at $4,415,648. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michael S. Weiss purchased 147,058 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The stock was bought at an average cost of $1.70 per share, for a total transaction of $249,998.60. Following the acquisition, the insider now directly owns 1,130,520 shares in the company, valued at $1,921,884. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 1,721,239 shares of company stock valued at $2,942,771. Company insiders own 26.90% of the company’s stock.
Hedge Funds Weigh In On Fortress Biotech
A number of institutional investors have recently made changes to their positions in FBIO. Jefferies Financial Group Inc. purchased a new position in Fortress Biotech in the 4th quarter worth $2,816,000. Perkins Capital Management Inc. lifted its position in Fortress Biotech by 72.5% during the 1st quarter. Perkins Capital Management Inc. now owns 1,419,013 shares of the biopharmaceutical company’s stock valued at $1,164,000 after acquiring an additional 596,500 shares during the period. State Street Corp raised its holdings in Fortress Biotech by 4.0% in the first quarter. State Street Corp now owns 1,292,970 shares of the biopharmaceutical company’s stock worth $1,758,000 after buying an additional 49,370 shares during the last quarter. Renaissance Technologies LLC raised its holdings in 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 buying an additional 1,001,653 shares during the last quarter. Finally, Acadian Asset Management LLC raised its holdings in Fortress Biotech by 5.2% in the second quarter. Acadian Asset Management LLC now owns 1,075,531 shares of the biopharmaceutical company’s stock worth $590,000 after buying an additional 53,298 shares during the last quarter. Institutional investors own 18.15% of the company’s stock.
About Fortress Biotech
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.
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