Fortress Biotech (NASDAQ:FBIO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Thursday.
According to Zacks, “Fortress Biotech, Inc. is a biopharmaceutical company. The company is engaged in acquiring, developing and commercializing novel pharmaceutical and biotechnology products. Fortress Biotech, Inc., formerly known as Coronado Biosciences, Inc., is based in NEW YORK, United States. “
Shares of FBIO stock opened at $1.18 on Thursday. Fortress Biotech has a one year low of $0.49 and a one year high of $5.54. The company has a quick ratio of 2.24, a current ratio of 2.25 and a debt-to-equity ratio of 0.76. The company has a market cap of $68.58 million, a P/E ratio of -0.73 and a beta of 1.66.
In other Fortress Biotech news, SVP George Avgerinos sold 97,325 shares of the business’s stock in a transaction that occurred on Tuesday, December 11th. The shares were sold at an average price of $1.05, for a total transaction of $102,191.25. Following the completion of the sale, the senior vice president now directly owns 255,170 shares in the company, valued at $267,928.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Robyn Hunter sold 20,370 shares of the business’s stock in a transaction that occurred on Friday, November 23rd. The stock was sold at an average price of $1.29, for a total transaction of $26,277.30. The disclosure for this sale can be found here. Corporate insiders own 34.70% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cpwm LLC purchased a new stake in Fortress Biotech during the third quarter worth approximately $274,000. Macquarie Group Ltd. grew its stake in Fortress Biotech by 109.0% during the second quarter. Macquarie Group Ltd. now owns 97,982 shares of the biopharmaceutical company’s stock worth $292,000 after buying an additional 51,100 shares during the period. JPMorgan Chase & Co. grew its stake in Fortress Biotech by 264.5% during the third quarter. JPMorgan Chase & Co. now owns 200,886 shares of the biopharmaceutical company’s stock worth $321,000 after buying an additional 145,766 shares during the period. Opus Point Partners Management LLC purchased a new stake in Fortress Biotech during the third quarter worth approximately $374,000. Finally, Renaissance Technologies LLC grew its stake in Fortress Biotech by 222.4% during the third quarter. Renaissance Technologies LLC now owns 378,218 shares of the biopharmaceutical company’s stock worth $605,000 after buying an additional 260,920 shares during the period. Institutional investors own 14.87% of the company’s stock.
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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