Fortress Biotech (NASDAQ:FBIO) Shares Cross Above 200 Day Moving Average - Should You Sell?

Shares of Fortress Biotech, Inc. (NASDAQ:FBIO - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.85 and traded as high as $3.90. Fortress Biotech shares last traded at $3.60, with a volume of 2,414,173 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright cut their price target on shares of Fortress Biotech from $26.00 to $17.00 and set a "buy" rating on the stock in a report on Thursday, August 21st. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Fortress Biotech currently has an average rating of "Buy" and an average target price of $16.50.

Fortress Biotech Trading Down 3.0%

The stock's fifty day moving average price is $2.14 and its 200 day moving average price is $1.85. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.92 and a quick ratio of 1.70. The stock has a market capitalization of $107.10 million, a P/E ratio of -3.43 and a beta of 1.61.

Fortress Biotech (NASDAQ:FBIO - Get Free Report) last posted its quarterly earnings results on Thursday, August 14th. The biopharmaceutical company reported ($0.46) EPS for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.15). Fortress Biotech had a negative return on equity of 301.81% and a negative net margin of 24.84%.The company had revenue of $16.41 million during the quarter, compared to the consensus estimate of $14.53 million. Research analysts forecast that Fortress Biotech, Inc. will post -3.28 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FBIO. Wolverine Trading LLC bought a new position in Fortress Biotech during the 4th quarter worth about $26,000. XTX Topco Ltd bought a new position in Fortress Biotech during the 2nd quarter worth about $42,000. Osaic Holdings Inc. grew its holdings in Fortress Biotech by 18.4% during the 2nd quarter. Osaic Holdings Inc. now owns 32,379 shares of the biopharmaceutical company's stock worth $60,000 after acquiring an additional 5,034 shares in the last quarter. Jane Street Group LLC bought a new position in Fortress Biotech during the 4th quarter worth about $69,000. Finally, PFG Investments LLC grew its holdings in Fortress Biotech by 28.4% during the 1st quarter. PFG Investments LLC now owns 45,259 shares of the biopharmaceutical company's stock worth $71,000 after acquiring an additional 10,000 shares in the last quarter. 96.51% of the stock is currently owned by institutional investors.

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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