Fortress Biotech (NASDAQ:FBIO) Stock Passes Above 200-Day Moving Average Following Weak Earnings

Key Points

• Fortress Biotech's share price surpassed its 200-day moving average after a quarterly earnings report revealed a loss of ($0.46) per share, missing analyst expectations by ($0.15).
• The company had a negative return on equity of 4,712.53% and a net margin of 71.24%, indicating significant financial challenges.
• Institutional investors own 96.51% of Fortress Biotech's stock, with various firms increasing their holdings recently, highlighting strong institutional interest.

Fortress Biotech, Inc. (NASDAQ:FBIO - Get Free Report) shares crossed above its 200-day moving average during trading on Thursday following a stronger than expected earnings report. The stock has a 200-day moving average of $1.75 and traded as high as $1.96. Fortress Biotech shares last traded at $1.96, with a volume of 109,878 shares.

The biopharmaceutical company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.15). Fortress Biotech had a negative return on equity of 693.95% and a negative net margin of 24.84%.The business had revenue of $16.41 million during the quarter, compared to analysts' expectations of $14.53 million.

Institutional Investors Weigh In On Fortress Biotech

Large investors have recently added to or reduced their stakes in the company. Wolverine Trading LLC purchased a new stake in Fortress Biotech during the fourth quarter valued at about $26,000. XTX Topco Ltd purchased a new stake in Fortress Biotech during the second quarter valued at about $42,000. Jane Street Group LLC purchased a new stake in Fortress Biotech during the fourth quarter valued at about $69,000. PFG Investments LLC raised its position in Fortress Biotech by 28.4% during the first quarter. PFG Investments LLC now owns 45,259 shares of the biopharmaceutical company's stock valued at $71,000 after purchasing an additional 10,000 shares in the last quarter. Finally, Weaver Consulting Group raised its position in Fortress Biotech by 101.8% during the first quarter. Weaver Consulting Group now owns 46,417 shares of the biopharmaceutical company's stock valued at $72,000 after purchasing an additional 23,419 shares in the last quarter. Hedge funds and other institutional investors own 96.51% of the company's stock.

Fortress Biotech Stock Down 1.8%

The firm has a market cap of $65.35 million, a PE ratio of -2.10 and a beta of 1.76. The stock has a 50-day simple moving average of $1.91 and a two-hundred day simple moving average of $1.76. The company has a quick ratio of 1.55, a current ratio of 1.72 and a debt-to-equity ratio of 1.74.

Fortress Biotech Company Profile

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.