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Fortress Biotech (NASDAQ:FBIO) Shares Pass Above 200-Day Moving Average - Here's Why

Fortress Biotech logo with Medical background

Fortress Biotech, Inc. (NASDAQ:FBIO - Get Free Report) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $1.75 and traded as high as $1.96. Fortress Biotech shares last traded at $1.89, with a volume of 236,600 shares traded.

Fortress Biotech Stock Performance

The firm has a 50-day moving average price of $1.89 and a 200 day moving average price of $1.75. The firm has a market capitalization of $53.52 million, a PE ratio of -0.81 and a beta of 1.75. The company has a quick ratio of 1.55, a current ratio of 1.72 and a debt-to-equity ratio of 1.74.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Wolverine Trading LLC purchased a new position in Fortress Biotech in the fourth quarter valued at $26,000. XTX Topco Ltd purchased a new position in Fortress Biotech in the fourth quarter valued at $62,000. Jane Street Group LLC purchased a new position in Fortress Biotech in the fourth quarter valued at $69,000. PFG Investments LLC boosted its holdings in Fortress Biotech by 28.4% in 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 during the period. Finally, Weaver Consulting Group boosted its holdings in Fortress Biotech by 101.8% in 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 during the period. 96.51% of the stock is currently owned by hedge funds and other institutional investors.

Fortress Biotech Company Profile

(Get Free Report)

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.

See Also

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