Fortress Biotech, Inc. (NASDAQ:FBIO) Stock purchased by National Asset Management Inc.


National Asset Management Inc. increased its position in Fortress Biotech, Inc. (NASDAQ: FBIO – Get Rating) by 30.5% in the first quarter, according to the company in its latest Form 13F filing with the Securities & Exchange Commission. The company held 145,550 shares of the biopharmaceutical company after purchasing an additional 34,000 shares during the period. National Asset Management Inc.’s holdings in Fortress Biotech were worth $198,000 when it last filed with the Securities & Exchange Commission.

Other hedge funds have also recently increased or reduced their stakes in the company. ProShare Advisors LLC acquired a new stake in shares of Fortress Biotech during Q4 valued at approximately $41,000. Lazard Asset Management LLC acquired a new stake in shares of Fortress Biotech during Q4, valued at approximately $56,000. Arete Wealth Advisors LLC raised its position in Fortress Biotech shares by 460.5% during the 4th quarter. Arete Wealth Advisors LLC now owns 61,651 shares of the biopharmaceutical company valued at $102,000 after acquiring an additional 50,651 shares during the period. Strs Ohio increased its position in Fortress Biotech shares by 167.4% during the fourth quarter. Strs Ohio now owns 51,600 shares of the biopharmaceutical company valued at $129,000 after acquiring an additional 32,300 shares during the period. Finally, PVG Asset Management Corp acquired a new equity stake in Fortress Biotech during Q4 valued at approximately $248,000. Institutional investors and hedge funds hold 30.92% of the company’s shares.

Changes to analyst ratings

Several research analysts have recently published reports on FBIO stocks. B. Riley reduced his price target on Fortress Biotech from $8.00 to $6.00 and set a “buy” rating for the company in a research report on Thursday, July 14. Cantor Fitzgerald reiterated a “buy” rating and set a $6.00 price target on Fortress Biotech shares in a Friday, May 13 research report. Finally, StockNews.com upgraded Fortress Biotech from a “sell” rating to a “hold” rating in a Thursday, May 19 research report. One equity research analyst gave the stock a hold rating and five gave the company a buy rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of “moderate buy” and an average target price of $10.50.

Fortress Biotech Price Performance

FBIO stock opened at $0.86 on Tuesday. The stock has a market capitalization of $92.80 million, a P/E ratio of -1.00 and a beta of 2.10. The company has a debt ratio of 0.46, a quick ratio of 3.15 and a current ratio of 3.31. Fortress Biotech, Inc. has a 1-year low of $0.77 and a 1-year high of $3.81. The company has a 50-day moving average price of $0.89 and a two-hundred-day moving average price of $1.26.

Fortress Biotech (NASDAQ:FBIO – Get Rating) last reported results on Thursday, May 12. The biopharmaceutical company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.10. The company posted revenue of $23.93 million in the quarter, compared to $20.06 million expected by analysts. Fortress Biotech had a negative net margin of 88.31% and a negative return on equity of 32.56%. During the same period of the previous year, the company achieved EPS of ($0.11). As a group, sell-side analysts expect Fortress Biotech, Inc. to post year-to-date EPS of -0.79.

Fortress Biotech Company Profile

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Fortress Biotech, Inc., a biopharmaceutical company, develops and markets pharmaceutical and biotechnology products. The company markets dermatology products, such as Ximino capsules to treat only inflammatory lesions of moderate to severe non-nodular acne vulgaris; Targadox for severe acne; Exelderm cream for symptoms of ringworm and jock itch; Ceracade for dry skin; Luxamend for dressing and treating wounds; and Accutane capsules for severe recalcitrant nodular acne.

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Want to see what other hedge funds own FBIO? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Fortress Biotech, Inc. (NASDAQ:FBIO – Get Rating).

Institutional ownership by quarter for Fortress Biotech (NASDAQ:FBIO)



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