Fortress Biotech (NASDAQ:FBIO) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Fortress Biotech, Inc. (NASDAQ:FBIO)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $3.18 and traded as high as $3.43. Fortress Biotech shares last traded at $3.36, with a volume of 268,023 shares traded.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Zacks Research upgraded Fortress Biotech from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 14th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Fortress Biotech in a report on Monday, December 29th. HC Wainwright reissued a “buy” rating and set a $17.00 price target on shares of Fortress Biotech in a research report on Monday, February 23rd. Finally, Wall Street Zen raised shares of Fortress Biotech from a “hold” rating to a “buy” rating in a report on Sunday, November 23rd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Fortress Biotech has an average rating of “Moderate Buy” and a consensus price target of $17.00.

Fortress Biotech Price Performance

The company has a fifty day moving average of $3.54 and a 200-day moving average of $3.18. The company has a current ratio of 2.19, a quick ratio of 1.97 and a debt-to-equity ratio of 0.73. The stock has a market cap of $104.29 million, a PE ratio of -18.67 and a beta of 1.38.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. NewEdge Advisors LLC increased its stake in Fortress Biotech by 162.3% during the 4th quarter. NewEdge Advisors LLC now owns 32,531 shares of the biopharmaceutical company’s stock worth $119,000 after buying an additional 20,131 shares during the period. XTX Topco Ltd acquired a new stake in Fortress Biotech during the 4th quarter worth approximately $53,000. Quadrature Capital Ltd purchased a new position in Fortress Biotech in the 4th quarter valued at approximately $180,000. Opaleye Management Inc. purchased a new position in Fortress Biotech in the 4th quarter valued at approximately $3,989,000. Finally, Man Group plc acquired a new position in shares of Fortress Biotech in the fourth quarter worth $193,000. Institutional investors and hedge funds own 96.51% of the company’s stock.

About Fortress Biotech

Fortress Biotech, Inc is a clinical‐stage biopharmaceutical company focused on acquiring, developing and commercializing novel pharmaceutical and biotechnology products. Headquartered in New York, the company operates through a network of majority‐owned subsidiaries that target areas of high unmet medical need, including oncology, rare diseases and dermatology. Fortress Biotech’s business model emphasizes in‐licensing or acquiring promising drug candidates and coordinating their development through specialized affiliate companies, allowing for flexible capital allocation and focused management of individual programs.

Through its portfolio of subsidiaries, Fortress Biotech advances a diversified pipeline spanning small molecules, biologics and cell therapies.