Wealth Enhancement Advisory Services LLC Has $44,000 Position in Fortress Biotech, Inc. (NASDAQ:FBIO)

Wealth Enhancement Advisory Services LLC lowered its stake in Fortress Biotech, Inc. (NASDAQ:FBIO) by 39.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,550 shares of the biopharmaceutical company’s stock after selling 20,266 shares during the period. Wealth Enhancement Advisory Services LLC owned 0.15% of Fortress Biotech worth $44,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Acadian Asset Management LLC grew its holdings in Fortress Biotech by 124.3% during the 1st quarter. Acadian Asset Management LLC now owns 292,058 shares of the biopharmaceutical company’s stock worth $582,000 after acquiring an additional 161,870 shares during the period. Shikiar Asset Management Inc. grew its holdings in Fortress Biotech by 4.4% during the 3rd quarter. Shikiar Asset Management Inc. now owns 235,969 shares of the biopharmaceutical company’s stock worth $342,000 after acquiring an additional 10,000 shares during the period. PVG Asset Management Corp acquired a new stake in Fortress Biotech during the 2nd quarter worth $266,000. B. Riley Wealth Advisors Inc. acquired a new stake in Fortress Biotech during the 2nd quarter worth $207,000. Finally, 180 Wealth Advisors LLC acquired a new stake in Fortress Biotech during the 2nd quarter worth $107,000. Institutional investors and hedge funds own 96.51% of the company’s stock.

Fortress Biotech Trading Down 2.9 %

FBIO opened at $1.65 on Thursday. The stock has a market capitalization of $37.64 million, a P/E ratio of -0.51 and a beta of 1.75. Fortress Biotech, Inc. has a 12 month low of $1.29 and a 12 month high of $4.43. The firm’s fifty day simple moving average is $1.72 and its 200 day simple moving average is $1.83.

Fortress Biotech (NASDAQ:FBIO) last issued its quarterly earnings results on Tuesday, August 13th. The biopharmaceutical company reported ($0.73) EPS for the quarter, topping the consensus estimate of ($1.32) by $0.59. The business had revenue of $14.90 million for the quarter, compared to the consensus estimate of $14.97 million. On average, equities research analysts predict that Fortress Biotech, Inc. will post -2.65 EPS for the current fiscal year.

Insiders Place Their Bets

In other Fortress Biotech news, CEO Lindsay A. Md Rosenwald purchased 763,359 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were purchased at an average cost of $1.84 per share, with a total value of $1,404,580.56. Following the transaction, the chief executive officer now directly owns 3,657,264 shares of the company’s stock, valued at $6,729,365.76. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 33.40% of the company’s stock.

Analyst Ratings Changes

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

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.