Fortress Biotech (NASDAQ:FBIO) Short Interest Update
Fortress Biotech (NASDAQ:FBIO) saw a significant increase in short interest in the month of July. As of July 31st, there was short interest totalling 1,461,200 shares, an increase of 19.6% from the June 30th total of 1,221,700 shares. Currently, 4.4% of the shares of the company are short sold. Based on an average trading volume of 392,300 shares, the days-to-cover ratio is currently 3.7 days.
Several large investors have recently added to or reduced their stakes in FBIO. Geode Capital Management LLC grew its holdings in Fortress Biotech by 12.8% during the 4th quarter. Geode Capital Management LLC now owns 379,972 shares of the biopharmaceutical company’s stock valued at $326,000 after buying an additional 43,239 shares in the last quarter. Two Sigma Investments LP grew its holdings in Fortress Biotech by 96.5% during the 4th quarter. Two Sigma Investments LP now owns 30,954 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 15,200 shares in the last quarter. Dowling & Yahnke LLC purchased a new position in Fortress Biotech during the 1st quarter valued at approximately $36,000. Cpwm LLC grew its holdings in Fortress Biotech by 11.7% during the 1st quarter. Cpwm LLC now owns 191,000 shares of the biopharmaceutical company’s stock valued at $340,000 after buying an additional 20,000 shares in the last quarter. Finally, National Asset Management Inc. grew its holdings in Fortress Biotech by 18.4% during the 1st quarter. National Asset Management Inc. now owns 56,417 shares of the biopharmaceutical company’s stock valued at $88,000 after buying an additional 8,750 shares in the last quarter. Hedge funds and other institutional investors own 12.90% of the company’s stock.
Shares of NASDAQ:FBIO traded up $0.08 during trading on Wednesday, hitting $1.58. 387,723 shares of the company’s stock were exchanged, compared to its average volume of 618,438. The company has a debt-to-equity ratio of 1.94, a quick ratio of 2.78 and a current ratio of 2.79. Fortress Biotech has a 52-week low of $0.49 and a 52-week high of $2.59. The firm has a 50-day moving average of $1.42. The firm has a market capitalization of $90.02 million, a P/E ratio of -0.52 and a beta of 2.48.
FBIO has been the topic of a number of recent research reports. Zacks Investment Research downgraded Fortress Biotech from a “buy” rating to a “hold” rating in a report on Monday, July 15th. HC Wainwright restated a “buy” rating and issued a $11.00 price target on shares of Fortress Biotech in a research report on Monday, May 13th. ValuEngine upgraded Fortress Biotech from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Finally, Roth Capital began coverage on Fortress Biotech in a research report on Monday, July 1st. They issued a “buy” rating and a $4.00 price target for the company.
Fortress Biotech Company Profile
Fortress Biotech, Inc develops and commercializes pharmaceutical and biotechnology products. The company develops CNDO-109, a lysate that treats cancer-related and other conditions; tramadol HCl for managing postoperative pain; CAEL-101 for the treatment of amyloid light chain amyloidosis; and CEVA101 for severe traumatic brain injury in children and adults in the United States.
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