Fortress Biotech (NASDAQ:FBIO) Stock Passes Above Two Hundred Day Moving Average - Time to Sell?

Fortress Biotech, Inc. (NASDAQ:FBIO - Get Free Report)'s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $3.00 and traded as high as $3.45. Fortress Biotech shares last traded at $3.29, with a volume of 463,116 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on FBIO. Weiss Ratings reiterated a "sell (d)" rating on shares of Fortress Biotech in a research note on Wednesday, July 8th. Wall Street Zen raised shares of Fortress Biotech from a "buy" rating to a "strong-buy" rating in a research note on Sunday, May 24th. Finally, Citigroup restated a "buy" rating on shares of Fortress Biotech in a report on Monday, May 18th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $17.00.

Fortress Biotech Stock Performance

The firm has a market capitalization of $109.29 million, a price-to-earnings ratio of 1.04 and a beta of 1.21. The firm has a 50 day moving average price of $3.05 and a 200-day moving average price of $3.00. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.86 and a quick ratio of 2.77.

Fortress Biotech (NASDAQ:FBIO - Get Free Report) last released its earnings results on Thursday, May 14th. The biopharmaceutical company reported $2.82 EPS for the quarter, topping the consensus estimate of ($0.22) by $3.04. Fortress Biotech had a return on equity of 109.66% and a net margin of 193.12%.The firm had revenue of $16.04 million during the quarter, compared to analysts' expectations of $16.34 million.

Institutional Trading of Fortress Biotech

Large investors have recently made changes to their positions in the company. Bank of America Corp DE raised its holdings in Fortress Biotech by 923.3% in the third quarter. Bank of America Corp DE now owns 7,122 shares of the biopharmaceutical company's stock valued at $26,000 after acquiring an additional 6,426 shares in the last quarter. Visionary Wealth Advisors acquired a new position in Fortress Biotech during the 4th quarter worth approximately $41,000. XTX Topco Ltd purchased a new stake in shares of Fortress Biotech in the 4th quarter valued at approximately $53,000. Scientech Research LLC purchased a new stake in shares of Fortress Biotech in the 3rd quarter valued at approximately $67,000. Finally, Osaic Holdings Inc. raised its holdings in shares of Fortress Biotech by 18.4% in the 2nd quarter. Osaic Holdings Inc. now owns 32,379 shares of the biopharmaceutical company's stock valued at $60,000 after purchasing an additional 5,034 shares in the last quarter. 96.51% of the stock is currently owned by hedge funds and other institutional investors.

About Fortress Biotech

Fortress Biotech, Inc is a clinical‐stage biopharmaceutical company focused on acquiring, developing and commercializing novel pharmaceutical and biotechnology products. Headquartered in New York, the company operates through a network of majority‐owned subsidiaries that target areas of high unmet medical need, including oncology, rare diseases and dermatology. Fortress Biotech's business model emphasizes in‐licensing or acquiring promising drug candidates and coordinating their development through specialized affiliate companies, allowing for flexible capital allocation and focused management of individual programs.

Through its portfolio of subsidiaries, Fortress Biotech advances a diversified pipeline spanning small molecules, biologics and cell therapies.

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