Fortress Biotech (NASDAQ:FBIO) Earns Hold Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Fortress Biotech (NASDAQ:FBIO – Get Rating) in a report issued on Thursday. The brokerage issued a hold rating on the biopharmaceutical company’s stock.

Fortress Biotech Trading Down 5.4 %

Shares of FBIO traded down $0.04 during trading hours on Thursday, hitting $0.70. 880,391 shares of the stock traded hands, compared to its average volume of 818,266. The company has a current ratio of 2.43, a quick ratio of 2.28 and a debt-to-equity ratio of 0.91. Fortress Biotech has a 1-year low of $0.48 and a 1-year high of $1.53. The firm has a market capitalization of $79.41 million, a PE ratio of -0.67 and a beta of 1.97. The business has a fifty day moving average of $0.81 and a 200-day moving average of $0.80.

Hedge Funds Weigh In On Fortress Biotech

Several large investors have recently made changes to their positions in FBIO. Envestnet Asset Management Inc. acquired a new position in shares of Fortress Biotech during the first quarter valued at $33,000. Advisor Group Holdings Inc. lifted its stake in shares of Fortress Biotech by 113.0% during the first quarter. Advisor Group Holdings Inc. now owns 20,020 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 10,620 shares during the period. Acadian Asset Management LLC lifted its stake in shares of Fortress Biotech by 169.1% during the first quarter. Acadian Asset Management LLC now owns 424,693 shares of the biopharmaceutical company’s stock valued at $575,000 after acquiring an additional 266,853 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Fortress Biotech by 7.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 199,473 shares of the biopharmaceutical company’s stock valued at $272,000 after acquiring an additional 12,966 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in Fortress Biotech by 1,005.2% in the first quarter. Renaissance Technologies LLC now owns 1,101,300 shares of the biopharmaceutical company’s stock valued at $1,498,000 after buying an additional 1,001,653 shares during the period. Institutional investors and hedge funds own 27.91% of the company’s stock.

About Fortress Biotech

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Fortress Biotech, Inc engages in the manufacture and commercialization of novel pharmaceutical products and product candidates. It operates through the Dermatology Product Sales and Pharmaceutical and Biotechnology Product Development segments. Its products include Ximino, Targadox, Exelderm, Ceracade, and Luxamend.