Fortress Biotech (NASDAQ:FBIO) Shares Pass Above Two Hundred Day Moving Average - Should You Sell?

Fortress Biotech, Inc. (NASDAQ:FBIO - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $1.76 and traded as high as $1.78. Fortress Biotech shares last traded at $1.70, with a volume of 129,418 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Roth Mkm reissued a "buy" rating and issued a $16.00 target price (up previously from $15.00) on shares of Fortress Biotech in a report on Tuesday, March 11th.

Fortress Biotech Stock Down 2.9%

The firm has a market cap of $50.27 million, a price-to-earnings ratio of -0.56 and a beta of 1.85. The stock has a fifty day moving average price of $1.64 and a 200-day moving average price of $1.76.

Fortress Biotech (NASDAQ:FBIO - Get Free Report) last announced its quarterly earnings data on Monday, March 31st. The biopharmaceutical company reported ($0.26) earnings per share for the quarter, topping analysts' consensus estimates of ($0.79) by $0.53. The business had revenue of $15.12 million for the quarter, compared to analyst estimates of $16.30 million. As a group, research analysts expect that Fortress Biotech, Inc. will post -3.28 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. HB Wealth Management LLC grew its holdings in Fortress Biotech by 6.1% during the first quarter. HB Wealth Management LLC now owns 113,350 shares of the biopharmaceutical company's stock worth $177,000 after acquiring an additional 6,500 shares during the period. PFG Investments LLC grew its holdings in Fortress Biotech by 28.4% during the first 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 during the period. Wolverine Trading LLC acquired a new position in Fortress Biotech during the fourth quarter worth $26,000. PVG Asset Management Corp grew its holdings in Fortress Biotech by 3.3% during the fourth quarter. PVG Asset Management Corp now owns 386,295 shares of the biopharmaceutical company's stock worth $782,000 after acquiring an additional 12,505 shares during the period. Finally, Integrated Wealth Concepts LLC grew its holdings in Fortress Biotech by 28.9% during the fourth quarter. Integrated Wealth Concepts LLC now owns 59,400 shares of the biopharmaceutical company's stock worth $120,000 after acquiring an additional 13,300 shares during the period. Institutional investors and hedge funds own 96.51% of the company's stock.

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.

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