180 Wealth Advisors LLC Buys Shares of 62,350 Fortress Biotech, Inc. (NASDAQ:FBIO)

180 Wealth Advisors LLC purchased a new stake in shares of Fortress Biotech, Inc. (NASDAQ:FBIO) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 62,350 shares of the biopharmaceutical company’s stock, valued at approximately $107,000. 180 Wealth Advisors LLC owned about 0.31% of Fortress Biotech as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of FBIO. Choreo LLC acquired a new stake in Fortress Biotech in the fourth quarter valued at approximately $109,000. Gladstone Institutional Advisory LLC acquired a new stake in shares of Fortress Biotech in the 4th quarter worth $36,000. Armistice Capital LLC purchased a new position in Fortress Biotech during the 4th quarter worth $1,794,000. PVG Asset Management Corp acquired a new position in Fortress Biotech during the 4th quarter valued at about $396,000. Finally, Shikiar Asset Management Inc. raised 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 valued at $446,000 after buying an additional 40,000 shares during the last quarter. 96.51% of the stock is currently owned by institutional investors.

Fortress Biotech Stock Performance

FBIO traded up $0.09 during trading on Thursday, reaching $1.90. 413,933 shares of the company’s stock were exchanged, compared to its average volume of 311,420. The company’s fifty day simple moving average is $1.92 and its 200-day simple moving average is $1.89. The stock has a market capitalization of $38.78 million, a P/E ratio of -0.31 and a beta of 1.74. The company has a debt-to-equity ratio of 38.42, a current ratio of 1.33 and a quick ratio of 1.21. Fortress Biotech, Inc. has a 1 year low of $1.24 and a 1 year high of $7.35.

Fortress Biotech (NASDAQ:FBIO) last posted its earnings results on Tuesday, August 13th. The biopharmaceutical company reported ($0.73) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.32) by $0.59. The business had revenue of $14.90 million for the quarter, compared to analyst estimates of $14.97 million. As a group, research analysts predict that Fortress Biotech, Inc. will post -5.07 earnings per share for the current fiscal year.

Insider Transactions at Fortress Biotech

In related news, CEO Lindsay A. Md Rosenwald purchased 20,000 shares of Fortress Biotech stock in a transaction that occurred on Friday, June 28th. The stock was bought at an average cost of $1.64 per share, for a total transaction of $32,800.00. Following the completion of the transaction, the chief executive officer now owns 2,893,905 shares in the company, valued at $4,746,004.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Lindsay A. Md Rosenwald purchased 20,000 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were bought at an average price of $1.64 per share, for a total transaction of $32,800.00. Following the completion of the transaction, the chief executive officer now owns 2,893,905 shares in the company, valued at $4,746,004.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Lindsay A. Md Rosenwald acquired 5,000 shares of the firm’s stock in a transaction on Thursday, July 11th. The stock was purchased at an average price of $7.48 per share, with a total value of $37,400.00. Following the transaction, the chief executive officer now owns 127,500 shares of the company’s stock, valued at approximately $953,700. The disclosure for this purchase can be found here. Insiders have purchased 30,500 shares of company stock worth $110,700 over the last quarter. 33.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. StockNews.com upgraded Fortress Biotech from a “sell” rating to a “hold” rating in a research note on Wednesday. Roth Mkm reissued a “buy” rating and set a $10.00 target price on shares of Fortress Biotech in a research report on Thursday, May 16th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Fortress Biotech in a report on Thursday, June 20th. Finally, HC Wainwright reissued a “buy” rating and set a $24.00 price objective on shares of Fortress Biotech in a report on Friday, July 19th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $28.50.

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.