Nantahala Capital Management LLC Sells 125,000 Shares of Fortress Biotech, Inc. (NASDAQ:FBIO)

Nantahala Capital Management LLC lessened its stake in Fortress Biotech, Inc. (NASDAQ:FBIO) by 44.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 153,152 shares of the biopharmaceutical company’s stock after selling 125,000 shares during the quarter. Nantahala Capital Management LLC owned 0.75% of Fortress Biotech worth $262,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Armistice Capital LLC purchased a new stake in shares of Fortress Biotech during the fourth quarter valued at approximately $1,794,000. PVG Asset Management Corp purchased a new stake in shares of Fortress Biotech during the fourth quarter valued at $396,000. Acadian Asset Management LLC increased its holdings in Fortress Biotech by 124.3% in the 1st quarter. Acadian Asset Management LLC now owns 292,058 shares of the biopharmaceutical company’s stock worth $582,000 after buying an additional 161,870 shares in the last quarter. Virtu Financial LLC purchased a new position in Fortress Biotech in the 1st quarter worth about $31,000. Finally, 180 Wealth Advisors LLC purchased a new position in Fortress Biotech in the 2nd quarter worth about $107,000. 96.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on FBIO. HC Wainwright restated a “buy” rating and set a $24.00 price objective on shares of Fortress Biotech in a research report on Friday, July 19th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Fortress Biotech in a research report on Thursday, June 20th. Finally, StockNews.com raised shares of Fortress Biotech from a “sell” rating to a “hold” rating in a report on Wednesday, August 14th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $13.00.

Insider Activity at Fortress Biotech

In other Fortress Biotech news, CEO Lindsay A. Md Rosenwald purchased 5,000 shares of the company’s stock in a transaction on Monday, July 8th. The stock was acquired at an average cost of $7.35 per share, for a total transaction of $36,750.00. Following the purchase, the chief executive officer now directly owns 117,500 shares of the company’s stock, valued at approximately $863,625. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Lindsay A. Md Rosenwald acquired 5,000 shares of the firm’s stock in a transaction dated Monday, July 8th. The shares were acquired at an average cost of $7.35 per share, with a total value of $36,750.00. Following the acquisition, the chief executive officer now directly owns 117,500 shares of the company’s stock, valued at $863,625. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Lindsay A. Md Rosenwald bought 763,359 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was acquired at an average cost of $1.84 per share, with a total value of $1,404,580.56. Following the completion of the acquisition, the chief executive officer now owns 3,657,264 shares of the company’s stock, valued at approximately $6,729,365.76. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 773,859 shares of company stock valued at $1,482,481. 33.40% of the stock is owned by company insiders.

Fortress Biotech Trading Down 3.0 %

Shares of NASDAQ:FBIO opened at $1.45 on Tuesday. The stock has a 50 day moving average of $1.90 and a 200 day moving average of $1.87. The company has a market cap of $29.50 million, a PE ratio of -0.24 and a beta of 1.81. Fortress Biotech, Inc. has a 12-month low of $1.24 and a 12-month high of $5.25. The company has a current ratio of 1.37, a quick ratio of 1.24 and a debt-to-equity ratio of 38.42.

Fortress Biotech (NASDAQ:FBIO) last announced its quarterly earnings data on Tuesday, August 13th. The biopharmaceutical company reported ($0.73) EPS for the quarter, beating the consensus estimate of ($1.32) by $0.59. The firm had revenue of $14.90 million for the quarter, compared to the consensus estimate of $14.97 million. As a group, equities research analysts expect that Fortress Biotech, Inc. will post -2.65 EPS for the current year.

About Fortress Biotech

Fortress Biotech, Inc, a biopharmaceutical company, develops and commercializes pharmaceutical and biotechnology products. The company markets dermatology products, such as Ximino an oral minocycline drug for the treatment of moderate to severe acne; Targadox an oral doxycycline drug for adjunctive therapy for severe acne; Exelderm cream for antifungal intended for topical use; Qbrexza a medicated cloth towelette for the treatment of primary axillary hyperhidrosis; Amzeeq; Zilxi; and Accutane capsules for severe recalcitrant nodular acne.