Fortress Biotech, Inc. (NASDAQ:FBIOP – Get Free Report) was the recipient of a large drop in short interest during the month of June. As of June 15th, there was short interest totaling 4,938 shares, a drop of 56.6% from the May 31st total of 11,366 shares. Based on an average daily volume of 41,576 shares, the days-to-cover ratio is presently 0.1 days.
Fortress Biotech Price Performance
Shares of NASDAQ:FBIOP traded up $0.03 during midday trading on Tuesday, reaching $20.11. The company had a trading volume of 9,128 shares, compared to its average volume of 23,948. The company’s 50 day moving average price is $17.30 and its 200 day moving average price is $13.85. Fortress Biotech has a 52-week low of $6.27 and a 52-week high of $21.43.
About Fortress Biotech
Fortress Biotech, Inc (NASDAQ: FBIOP) is a biopharmaceutical company that acquires, develops and commercializes innovative therapeutics for the treatment of patients with serious diseases. Operating as a biotech accelerator, Fortress Biotech partners with experienced management teams to advance products from early-stage discovery through regulatory approval and commercial launch. Its diversified portfolio spans multiple therapeutic areas, including oncology, rare diseases, dermatology, ophthalmology and neuromuscular disorders.
The company’s business model centers on establishing and funding product-centric subsidiary companies, each focused on a specific drug candidate or therapy.
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