Integrated Wealth Concepts LLC Purchases 13,300 Shares of Fortress Biotech, Inc. (NASDAQ:FBIO)

Integrated Wealth Concepts LLC raised its position in Fortress Biotech, Inc. (NASDAQ:FBIO) by 28.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 59,400 shares of the biopharmaceutical company’s stock after buying an additional 13,300 shares during the quarter. Integrated Wealth Concepts LLC owned about 0.22% of Fortress Biotech worth $120,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in FBIO. XTX Topco Ltd bought a new position in Fortress Biotech in the fourth quarter valued at approximately $62,000. Renaissance Technologies LLC increased its stake in shares of Fortress Biotech by 125.1% in the 4th quarter. Renaissance Technologies LLC now owns 175,800 shares of the biopharmaceutical company’s stock valued at $356,000 after purchasing an additional 97,712 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Fortress Biotech by 30.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 239,594 shares of the biopharmaceutical company’s stock valued at $485,000 after purchasing an additional 55,648 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Fortress Biotech by 21.3% during the 4th quarter. Geode Capital Management LLC now owns 204,537 shares of the biopharmaceutical company’s stock worth $414,000 after buying an additional 35,930 shares in the last quarter. Finally, Atria Investments Inc lifted its position in shares of Fortress Biotech by 23.6% during the 4th quarter. Atria Investments Inc now owns 88,325 shares of the biopharmaceutical company’s stock worth $179,000 after buying an additional 16,841 shares during the last quarter. 96.51% of the stock is currently owned by institutional investors and hedge funds.

Fortress Biotech Stock Performance

NASDAQ FBIO opened at $1.78 on Tuesday. The firm’s fifty day moving average price is $1.61 and its two-hundred day moving average price is $1.77. The stock has a market cap of $52.63 million, a PE ratio of -0.58 and a beta of 1.85. Fortress Biotech, Inc. has a fifty-two week low of $1.33 and a fifty-two week high of $2.89.

Fortress Biotech (NASDAQ:FBIO) last issued its quarterly earnings data on Monday, March 31st. The biopharmaceutical company reported ($0.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.53. The firm had revenue of $15.12 million for the quarter, compared to the consensus estimate of $16.30 million. As a group, sell-side analysts predict that Fortress Biotech, Inc. will post -3.28 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Roth Mkm reissued a “buy” rating and set a $16.00 target price (up previously from $15.00) on shares of Fortress Biotech in a research note on Tuesday, March 11th.

Fortress Biotech Company Profile

Fortress Biotech, Inc, a biopharmaceutical company, develops dermatology, pharmaceutical, and biotechnology products in the United States. The company markets dermatology products, such as Qbrexza a medicated cloth towelette for the treatment of primary axillary hyperhidrosis; Accutane capsules for severe recalcitrant nodular acne; Amzeeq for severe acne vulgaris; Zilxi, a topical foam; Exelderm cream and solution for topical use; Targadox an oral doxycycline drug for adjunctive therapy for severe acne; Luxamend; sulconazole nitrate cream and solution for tinea cruris and tinea corporis; and doxycycline hyclate tablet.