Fortress Biotech (NASDAQ:FBIO) Issues Earnings Results, Misses Estimates 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) posted its earnings results on Thursday. The biopharmaceutical company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.15), Zacks reports. Fortress Biotech had a negative return on equity of 4,712.53% and a negative net margin of 71.24%.

Fortress Biotech Trading Up 1.6%

Shares of NASDAQ FBIO traded up $0.03 during mid-day trading on Thursday, hitting $1.96. The company's stock had a trading volume of 109,878 shares, compared to its average volume of 263,083. The stock has a market cap of $57.96 million, a price-to-earnings ratio of -0.88 and a beta of 1.76. The company's fifty day simple moving average is $1.90 and its 200-day simple moving average is $1.75. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.72 and a quick ratio of 1.55. Fortress Biotech has a one year low of $1.33 and a one year high of $2.36.

Institutional Trading of Fortress Biotech

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

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.

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