Fortress Biotech (NASDAQ:FBIO) Stock Price Passes Above 200-Day Moving Average – Should You Sell?

Fortress Biotech, Inc. (NASDAQ:FBIO) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $3.06 and traded as high as $3.21. Fortress Biotech shares last traded at $3.02, with a volume of 574,918 shares traded.

Analysts Set New Price Targets

A number of brokerages have weighed in on FBIO. Weiss Ratings reissued a “sell (d+)” rating on shares of Fortress Biotech in a research report on Friday, March 27th. Zacks Research downgraded shares of Fortress Biotech from a “strong-buy” rating to a “hold” rating in a report on Monday, March 16th. Wall Street Zen upgraded shares of Fortress Biotech from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 24th. Finally, Citigroup reissued a “buy” rating on shares of Fortress Biotech in a report on Monday, May 18th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Fortress Biotech currently has a consensus rating of “Hold” and a consensus target price of $17.00.

Fortress Biotech Trading Down 9.1%

The company has a current ratio of 2.86, a quick ratio of 2.77 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $91.19 million, a PE ratio of 0.87 and a beta of 1.22. The stock has a 50 day moving average price of $2.61 and a 200-day moving average price of $3.05.

Fortress Biotech (NASDAQ:FBIO) last posted its quarterly earnings data on Thursday, May 14th. The biopharmaceutical company reported $2.82 EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $3.04. The company had revenue of $16.04 million during the quarter, compared to analysts’ expectations of $16.34 million. Fortress Biotech had a return on equity of 109.66% and a net margin of 193.12%.

Hedge Funds Weigh In On Fortress Biotech

A number of institutional investors and hedge funds have recently made changes to their positions in FBIO. XTX Topco Ltd purchased a new stake in Fortress Biotech during the second quarter valued at approximately $42,000. Osaic Holdings Inc. increased its stake in shares of Fortress Biotech by 18.4% in the 2nd quarter. Osaic Holdings Inc. now owns 32,379 shares of the biopharmaceutical company’s stock worth $60,000 after purchasing an additional 5,034 shares in the last quarter. Vanguard Group Inc. raised its holdings in Fortress Biotech by 11.4% in the 3rd quarter. Vanguard Group Inc. now owns 950,327 shares of the biopharmaceutical company’s stock worth $3,511,000 after purchasing an additional 97,405 shares during the period. Two Sigma Investments LP raised its holdings in Fortress Biotech by 85.4% in the 3rd quarter. Two Sigma Investments LP now owns 84,981 shares of the biopharmaceutical company’s stock worth $314,000 after purchasing an additional 39,149 shares during the period. Finally, Bank of America Corp DE lifted its position in Fortress Biotech by 923.3% during the third quarter. Bank of America Corp DE now owns 7,122 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 6,426 shares in the last quarter. Hedge funds and other institutional investors 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.