ValuEngine lowered shares of Fortress Biotech, Inc. (NASDAQ:FBIO) from a hold rating to a sell rating in a report published on Tuesday.

FBIO has been the subject of a number of other research reports. HC Wainwright set a $11.00 price objective on shares of Fortress Biotech and gave the stock a buy rating in a research report on Tuesday, July 11th. Zacks Investment Research downgraded shares of Fortress Biotech from a buy rating to a hold rating in a research report on Tuesday, July 11th. Rodman & Renshaw assumed coverage on shares of Fortress Biotech in a research report on Tuesday, July 11th. They issued a buy rating and a $11.00 price objective for the company. Finally, FBR & Co reiterated a buy rating on shares of Fortress Biotech in a research report on Tuesday, July 4th. Two research analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $11.00.

Shares of Fortress Biotech (FBIO) opened at 4.72 on Tuesday. The stock’s market cap is $238.49 million. The firm has a 50-day moving average price of $4.57 and a 200-day moving average price of $4.20. Fortress Biotech has a 52 week low of $1.88 and a 52 week high of $5.13.

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Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers raised its position in shares of Fortress Biotech by 2.8% during the 2nd quarter. Rhumbline Advisers now owns 38,846 shares of the biopharmaceutical company’s stock worth $185,000 after purchasing an additional 1,075 shares during the last quarter. ClariVest Asset Management LLC raised its position in shares of Fortress Biotech by 1.0% during the 1st quarter. ClariVest Asset Management LLC now owns 161,519 shares of the biopharmaceutical company’s stock worth $598,000 after purchasing an additional 1,600 shares during the last quarter. Parametric Portfolio Associates LLC raised its position in shares of Fortress Biotech by 3.3% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 59,224 shares of the biopharmaceutical company’s stock worth $281,000 after purchasing an additional 1,913 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Fortress Biotech by 4.9% during the 1st quarter. Bank of New York Mellon Corp now owns 110,061 shares of the biopharmaceutical company’s stock worth $408,000 after purchasing an additional 5,170 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Fortress Biotech by 2.1% during the 2nd quarter. Northern Trust Corp now owns 386,435 shares of the biopharmaceutical company’s stock worth $1,836,000 after purchasing an additional 7,858 shares during the last quarter. Hedge funds and other institutional investors own 11.99% of the company’s stock.

About Fortress Biotech

Fortress Biotech, Inc, formerly Coronado Biosciences, Inc, is a biopharmaceutical company. The Company is involved in the development of immunotherapy agents for the treatment of autoimmune diseases and cancer. Its sole product candidate is CNDO-109. The Company is also focused on acquiring, developing and commercializing pharmaceutical and biotechnology products.

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