PFG Investments LLC Increases Stock Position in Fortress Biotech, Inc. (NASDAQ:FBIO)

PFG Investments LLC lifted its position in shares of Fortress Biotech, Inc. (NASDAQ:FBIO) by 28.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,259 shares of the biopharmaceutical company’s stock after acquiring an additional 10,000 shares during the quarter. PFG Investments LLC owned 0.15% of Fortress Biotech worth $71,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of FBIO. PVG Asset Management Corp lifted its stake in Fortress Biotech by 3.3% in the 4th quarter. PVG Asset Management Corp now owns 386,295 shares of the biopharmaceutical company’s stock valued at $782,000 after buying an additional 12,505 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Fortress Biotech by 30.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 239,594 shares of the biopharmaceutical company’s stock valued at $485,000 after purchasing an additional 55,648 shares during the period. Geode Capital Management LLC increased its position in shares of Fortress Biotech by 21.3% during the fourth quarter. Geode Capital Management LLC now owns 204,537 shares of the biopharmaceutical company’s stock worth $414,000 after acquiring an additional 35,930 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Fortress Biotech by 125.1% during the fourth 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 in the last quarter. Finally, Atria Investments Inc raised its stake in shares of 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 in the last quarter. Hedge funds and other institutional investors own 96.51% of the company’s stock.

Fortress Biotech Stock Performance

Shares of FBIO stock opened at $1.85 on Friday. Fortress Biotech, Inc. has a 12-month low of $1.33 and a 12-month high of $2.89. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.72 and a quick ratio of 1.55. The firm has a market capitalization of $54.70 million, a price-to-earnings ratio of -0.83 and a beta of 1.76. The business has a 50 day simple moving average of $1.79 and a 200 day simple moving average of $1.77.

Fortress Biotech (NASDAQ:FBIO) last posted its earnings results on Monday, March 31st. The biopharmaceutical company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.79) by $0.53. Fortress Biotech had a negative return on equity of 4,712.53% and a negative net margin of 71.24%. The firm had revenue of $15.12 million for the quarter, compared to analysts’ expectations of $16.30 million. On average, equities research analysts anticipate that Fortress Biotech, Inc. will post -3.28 EPS for the current year.

Analysts Set New Price Targets

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

About Fortress Biotech

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.