Fortress Biotech, Inc. (NASDAQ:FBIO) Short Interest Update

Fortress Biotech, Inc. (NASDAQ:FBIO) was the target of a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 1,880,000 shares, a growth of 8.7% from the March 15th total of 1,730,000 shares. Approximately 14.1% of the company’s shares are sold short. Based on an average trading volume of 392,200 shares, the days-to-cover ratio is presently 4.8 days.

Fortress Biotech Stock Performance

Shares of NASDAQ:FBIO traded up $0.04 on Wednesday, reaching $1.80. The company had a trading volume of 164,145 shares, compared to its average volume of 407,811. The company has a debt-to-equity ratio of 38.42, a current ratio of 1.38 and a quick ratio of 1.26. The stock has a 50-day moving average price of $1.93 and a 200 day moving average price of $2.28. Fortress Biotech has a twelve month low of $1.24 and a twelve month high of $12.19.

Analysts Set New Price Targets

Several analysts have recently commented on the company. StockNews.com cut Fortress Biotech from a “hold” rating to a “sell” rating in a research report on Friday, April 12th. Alliance Global Partners assumed coverage on Fortress Biotech in a research note on Tuesday, March 19th. They issued a “buy” rating and a $5.00 price target for the company. Finally, Roth Mkm initiated coverage on shares of Fortress Biotech in a research report on Friday, March 15th. They set a “buy” rating and a $10.00 price objective on the stock.

Institutional Investors Weigh In On Fortress Biotech

Several institutional investors and hedge funds have recently added to or reduced their stakes in FBIO. Envestnet Asset Management Inc. acquired a new stake in shares of Fortress Biotech in the first quarter valued at about $33,000. Advisor Group Holdings Inc. lifted its stake in shares of Fortress Biotech by 113.0% in the first quarter. Advisor Group Holdings Inc. now owns 20,020 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 10,620 shares during the period. Acadian Asset Management LLC increased its stake in Fortress Biotech by 169.1% during the first quarter. Acadian Asset Management LLC now owns 424,693 shares of the biopharmaceutical company’s stock valued at $575,000 after acquiring an additional 266,853 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Fortress Biotech by 7.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 199,473 shares of the biopharmaceutical company’s stock worth $272,000 after acquiring an additional 12,966 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in Fortress Biotech by 1,005.2% in the 1st quarter. Renaissance Technologies LLC now owns 1,101,300 shares of the biopharmaceutical company’s stock valued at $1,498,000 after buying an additional 1,001,653 shares during the period. 96.51% of the stock is currently owned by institutional investors and hedge funds.

Fortress Biotech Company Profile

Fortress Biotech, Inc, a biopharmaceutical company, develops and commercializes pharmaceutical and biotechnology products. The company markets dermatology products, such as Ximino an oral minocycline drug for the treatment of moderate to severe acne; Targadox an oral doxycycline drug for adjunctive therapy for severe acne; Exelderm cream for antifungal intended for topical use; Qbrexza a medicated cloth towelette for the treatment of primary axillary hyperhidrosis; Amzeeq; Zilxi; and Accutane capsules for severe recalcitrant nodular acne.