Fortress Biotech (NASDAQ:FBIO) Posts Quarterly Earnings Results, Misses Expectations By $0.15 EPS

Key Points

• Fortress Biotech reported an earnings per share (EPS) of (-0.46) for the quarter, missing estimates by $0.15 and indicating a negative return on equity of 4,712.53%.
• The company's stock price increased 1.6% to $1.96 with a market cap of $57.96 million and a price-to-earnings ratio of -0.88.
• Institutional investors own approximately 96.51% of Fortress Biotech, including a recent purchase of 22,791 shares by XTX Topco Ltd, valued at $42,000.

Fortress Biotech (NASDAQ:FBIO - Get Free Report) issued its earnings results on Thursday. The biopharmaceutical company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.15), Zacks reports. Fortress Biotech had a negative return on equity of 693.95% and a negative net margin of 24.84%. The firm had revenue of $16.41 million during the quarter, compared to the consensus estimate of $14.53 million.

Fortress Biotech Price Performance

Shares of Fortress Biotech stock traded down $0.01 during trading hours on Tuesday, hitting $2.25. The company's stock had a trading volume of 52,216 shares, compared to its average volume of 268,508. The business has a 50 day moving average price of $1.91 and a two-hundred day moving average price of $1.76. Fortress Biotech has a 12-month low of $1.33 and a 12-month high of $2.36. The company has a market cap of $66.38 million, a PE ratio of -2.14 and a beta of 1.76. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.55 and a current ratio of 1.72.

Hedge Funds Weigh In On Fortress Biotech

A hedge fund recently bought a new stake in Fortress Biotech stock. XTX Topco Ltd acquired a new stake in Fortress Biotech, Inc. (NASDAQ:FBIO - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 22,791 shares of the biopharmaceutical company's stock, valued at approximately $42,000. XTX Topco Ltd owned approximately 0.08% of Fortress Biotech as of its most recent SEC filing. Hedge funds and other institutional investors own 96.51% of the company's stock.

About Fortress Biotech

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.