Insider Buying: Fortress Biotech, Inc. (NASDAQ:FBIO) CEO Acquires 20,000 Shares of Stock

Fortress Biotech, Inc. (NASDAQ:FBIO) CEO Lindsay A. Md Rosenwald acquired 20,000 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were purchased at an average cost of $1.64 per share, for a total transaction of $32,800.00. Following the completion of the acquisition, the chief executive officer now directly owns 2,893,905 shares in the company, valued at $4,746,004.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Fortress Biotech Stock Performance

NASDAQ:FBIO opened at $1.67 on Wednesday. The company has a debt-to-equity ratio of 38.42, a quick ratio of 1.21 and a current ratio of 1.33. The stock’s fifty day moving average is $1.80 and its 200 day moving average is $1.97. Fortress Biotech, Inc. has a fifty-two week low of $1.24 and a fifty-two week high of $10.35. The firm has a market capitalization of $34.08 million, a PE ratio of -0.27 and a beta of 1.74.

Fortress Biotech (NASDAQ:FBIO) last released its earnings results on Wednesday, May 15th. The biopharmaceutical company reported ($1.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.03) by $1.00. The business had revenue of $13.03 million during the quarter, compared to analysts’ expectations of $14.33 million. On average, sell-side analysts anticipate that Fortress Biotech, Inc. will post -5.07 earnings per share for the current year.

Institutional Trading of Fortress Biotech

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Virtu Financial LLC purchased a new stake in Fortress Biotech in the first quarter worth $31,000. Acadian Asset Management LLC increased its stake in Fortress Biotech by 124.3% in the first quarter. Acadian Asset Management LLC now owns 292,058 shares of the biopharmaceutical company’s stock worth $582,000 after purchasing an additional 161,870 shares during the period. PFG Investments LLC purchased a new stake in Fortress Biotech in the first quarter worth $33,000. Shikiar Asset Management Inc. increased its stake in Fortress Biotech by 21.8% in the first quarter. Shikiar Asset Management Inc. now owns 223,136 shares of the biopharmaceutical company’s stock worth $446,000 after purchasing an additional 40,000 shares during the period. Finally, PVG Asset Management Corp bought a new position in shares of Fortress Biotech during the 4th quarter worth $396,000. Hedge funds and other institutional investors own 96.51% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on FBIO shares. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Fortress Biotech in a report on Thursday, June 20th. Alliance Global Partners began coverage on Fortress Biotech in a report on Tuesday, March 19th. They set a “buy” rating and a $5.00 price target on the stock. StockNews.com upgraded Fortress Biotech from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Roth Mkm restated a “buy” rating and set a $10.00 price target on shares of Fortress Biotech in a report on Thursday, May 16th.

About Fortress Biotech

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.