Geode Capital Management LLC Increases Stock Position in Fortress Biotech, Inc. (NASDAQ:FBIO)

Geode Capital Management LLC boosted its holdings in Fortress Biotech, Inc. (NASDAQ:FBIO) by 21.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 204,537 shares of the biopharmaceutical company’s stock after buying an additional 35,930 shares during the period. Geode Capital Management LLC owned approximately 0.74% of Fortress Biotech worth $414,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Weaver Consulting Group lifted its holdings in shares of Fortress Biotech by 33.0% in the fourth quarter. Weaver Consulting Group now owns 22,998 shares of the biopharmaceutical company’s stock worth $47,000 after buying an additional 5,700 shares in the last quarter. 180 Wealth Advisors LLC increased its holdings in Fortress Biotech by 19.0% during the 4th quarter. 180 Wealth Advisors LLC now owns 81,300 shares of the biopharmaceutical company’s stock worth $165,000 after acquiring an additional 13,000 shares during the period. PFG Investments LLC lifted its stake in Fortress Biotech by 82.8% in the 4th quarter. PFG Investments LLC now owns 35,259 shares of the biopharmaceutical company’s stock worth $71,000 after purchasing an additional 15,968 shares in the last quarter. Atria Investments Inc boosted its holdings in Fortress Biotech by 23.6% in the 4th quarter. Atria Investments Inc now owns 88,325 shares of the biopharmaceutical company’s stock valued at $179,000 after purchasing an additional 16,841 shares during the period. Finally, HB Wealth Management LLC grew its position in shares of Fortress Biotech by 93.1% during the 4th quarter. HB Wealth Management LLC now owns 106,850 shares of the biopharmaceutical company’s stock valued at $232,000 after purchasing an additional 51,517 shares in the last quarter. Hedge funds and other institutional investors own 96.51% of the company’s stock.

Fortress Biotech Trading Up 4.6 %

FBIO stock opened at $1.83 on Friday. The company’s 50 day moving average is $1.60 and its 200 day moving average is $1.77. The stock has a market cap of $54.11 million, a price-to-earnings ratio of -0.60 and a beta of 1.85. Fortress Biotech, Inc. has a 1-year low of $1.33 and a 1-year high of $2.89.

Fortress Biotech (NASDAQ:FBIO) last issued its quarterly earnings results on Monday, March 31st. The biopharmaceutical company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.53. The company had revenue of $15.12 million during the quarter, compared to the consensus estimate of $16.30 million. As a group, sell-side analysts forecast that Fortress Biotech, Inc. will post -3.28 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm reissued a “buy” rating and set a $16.00 price objective (up previously from $15.00) on shares of Fortress Biotech in a research note on Tuesday, March 11th.

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.