Fortress Biotech (NASDAQ:FBIO) Stock Price Crosses Above 200-Day Moving Average – Should You Sell?

Fortress Biotech, Inc. (NASDAQ:FBIO)’s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $2.92 and traded as high as $2.99. Fortress Biotech shares last traded at $2.93, with a volume of 603,486 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on FBIO shares. Wall Street Zen downgraded shares of Fortress Biotech from a “strong-buy” rating to a “hold” rating in a research note on Saturday, August 15th. Citigroup restated a “buy” rating on shares of Fortress Biotech in a research note on Monday, May 18th. Finally, Weiss Ratings raised Fortress Biotech from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, August 14th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $17.00.

Fortress Biotech Price Performance

The company has a current ratio of 3.96, a quick ratio of 3.83 and a debt-to-equity ratio of 0.17. The business’s 50-day simple moving average is $3.07 and its 200-day simple moving average is $2.92. The company has a market capitalization of $94.38 million, a PE ratio of 1.07 and a beta of 1.21.

Fortress Biotech (NASDAQ:FBIO) last released its quarterly earnings data on Thursday, August 13th. The biopharmaceutical company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.12. The business had revenue of $18.72 million for the quarter, compared to the consensus estimate of $18.30 million. Fortress Biotech had a net margin of 163.32% and a return on equity of 83.47%.

Institutional Investors Weigh In On Fortress Biotech

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC lifted its holdings in shares of Fortress Biotech by 22.8% in the 1st quarter. Renaissance Technologies LLC now owns 99,590 shares of the biopharmaceutical company’s stock valued at $278,000 after buying an additional 18,490 shares during the period. Shikiar Asset Management Inc. grew its holdings in Fortress Biotech by 9.7% during the first quarter. Shikiar Asset Management Inc. now owns 305,469 shares of the biopharmaceutical company’s stock worth $852,000 after acquiring an additional 27,000 shares during the period. NewEdge Advisors LLC grew its holdings in Fortress Biotech by 162.3% during the fourth quarter. NewEdge Advisors LLC now owns 32,531 shares of the biopharmaceutical company’s stock worth $119,000 after acquiring an additional 20,131 shares during the period. XTX Topco Ltd purchased a new position in Fortress Biotech during the fourth quarter valued at approximately $53,000. Finally, Quadrature Capital Ltd purchased a new position in Fortress Biotech during the fourth quarter valued at approximately $180,000. 96.51% of the stock is owned by institutional investors and hedge funds.

About Fortress Biotech

Fortress Biotech, Inc is a clinical‐stage biopharmaceutical company focused on acquiring, developing and commercializing novel pharmaceutical and biotechnology products. Headquartered in New York, the company operates through a network of majority‐owned subsidiaries that target areas of high unmet medical need, including oncology, rare diseases and dermatology. Fortress Biotech’s business model emphasizes in‐licensing or acquiring promising drug candidates and coordinating their development through specialized affiliate companies, allowing for flexible capital allocation and focused management of individual programs.

Through its portfolio of subsidiaries, Fortress Biotech advances a diversified pipeline spanning small molecules, biologics and cell therapies.