Fortress Biotech, Inc. (NASDAQ:FBIO) Short Interest Up 8.7% in March

Fortress Biotech, Inc. (NASDAQ:FBIO) was the target of a significant growth in short interest in March. As of March 31st, there was short interest totalling 1,880,000 shares, a growth of 8.7% from the March 15th total of 1,730,000 shares. Currently, 14.1% of the company’s stock are sold short. Based on an average daily trading volume, of 392,200 shares, the days-to-cover ratio is presently 4.8 days.

Fortress Biotech Stock Performance

Shares of NASDAQ FBIO traded up $0.05 during trading on Wednesday, reaching $1.81. 171,037 shares of the stock traded hands, compared to its average volume of 407,852. Fortress Biotech has a 52-week low of $1.24 and a 52-week high of $12.19. The company has a debt-to-equity ratio of 38.42, a current ratio of 1.38 and a quick ratio of 1.26. The company has a 50-day moving average of $1.93 and a 200-day moving average of $2.28. The stock has a market capitalization of $34.73 million, a P/E ratio of -0.22 and a beta of 1.51.

Wall Street Analysts Forecast Growth

FBIO has been the topic of several research analyst reports. Roth Mkm initiated coverage on Fortress Biotech in a research report on Friday, March 15th. They issued a “buy” rating and a $10.00 price objective on the stock. StockNews.com cut Fortress Biotech from a “hold” rating to a “sell” rating in a research report on Friday, April 12th. Finally, Alliance Global Partners initiated coverage on Fortress Biotech in a research report on Tuesday, March 19th. They issued a “buy” rating and a $5.00 price objective on the stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Advisor Group Holdings Inc. lifted its position in shares of Fortress Biotech by 113.0% during the 1st quarter. Advisor Group Holdings Inc. now owns 20,020 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 10,620 shares during the last quarter. Gladstone Institutional Advisory LLC bought a new stake in shares of Fortress Biotech during the 4th quarter valued at $36,000. Charles Schwab Investment Management Inc. raised its stake in shares of Fortress Biotech by 7.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 199,473 shares of the biopharmaceutical company’s stock valued at $272,000 after purchasing an additional 12,966 shares during the period. Morgan Stanley raised its stake in shares of Fortress Biotech by 16.7% during the 4th quarter. Morgan Stanley now owns 107,579 shares of the biopharmaceutical company’s stock valued at $70,000 after purchasing an additional 15,392 shares during the period. Finally, Wells Fargo & Company MN raised its stake in shares of Fortress Biotech by 49.3% during the 4th quarter. Wells Fargo & Company MN now owns 47,441 shares of the biopharmaceutical company’s stock valued at $31,000 after purchasing an additional 15,657 shares during the period. Hedge funds and other institutional investors own 96.51% of the company’s stock.

Fortress Biotech Company Profile

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.