Jane Street Group LLC Takes Position in Fortress Biotech, Inc. (NASDAQ:FBIO)

Jane Street Group LLC purchased a new position in Fortress Biotech, Inc. (NASDAQ:FBIO) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 34,159 shares of the biopharmaceutical company’s stock, valued at approximately $69,000. Jane Street Group LLC owned 0.12% of Fortress Biotech as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Envestnet Asset Management Inc. grew its position in Fortress Biotech by 30.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 239,594 shares of the biopharmaceutical company’s stock valued at $485,000 after acquiring an additional 55,648 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Fortress Biotech by 21.3% in the fourth quarter. Geode Capital Management LLC now owns 204,537 shares of the biopharmaceutical company’s stock worth $414,000 after purchasing an additional 35,930 shares during the last quarter. Renaissance Technologies LLC increased its stake in Fortress Biotech by 125.1% in the 4th quarter. Renaissance Technologies LLC now owns 175,800 shares of the biopharmaceutical company’s stock worth $356,000 after buying an additional 97,712 shares during the period. Atria Investments Inc lifted its holdings in Fortress Biotech by 23.6% during the 4th quarter. Atria Investments Inc now owns 88,325 shares of the biopharmaceutical company’s stock valued at $179,000 after buying an additional 16,841 shares in the last quarter. Finally, Integrated Wealth Concepts LLC lifted its holdings in Fortress Biotech by 28.9% during the 4th quarter. Integrated Wealth Concepts LLC now owns 59,400 shares of the biopharmaceutical company’s stock valued at $120,000 after buying an additional 13,300 shares in the last quarter. 96.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Fortress Biotech Trading Up 6.4%

Shares of Fortress Biotech stock opened at $2.00 on Monday. The stock’s fifty day moving average price is $1.68 and its 200-day moving average price is $1.77. The firm has a market cap of $59.14 million, a P/E ratio of -0.66 and a beta of 1.76. Fortress Biotech, Inc. has a 12 month low of $1.33 and a 12 month high of $2.89.

Fortress Biotech (NASDAQ:FBIO) last posted its earnings results on Monday, March 31st. The biopharmaceutical company reported ($0.26) EPS for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.53. The business had revenue of $15.12 million for the quarter, compared to analysts’ expectations of $16.30 million. Analysts forecast that Fortress Biotech, Inc. will post -3.28 earnings per share for the current year.

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.