Geode Capital Management LLC Boosts Holdings in Fortress Biotech, Inc. (NASDAQ:FBIO)

Geode Capital Management LLC raised its holdings in shares of Fortress Biotech, Inc. (NASDAQ:FBIO) by 28.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 168,607 shares of the biopharmaceutical company’s stock after acquiring an additional 37,736 shares during the quarter. Geode Capital Management LLC owned approximately 0.74% of Fortress Biotech worth $244,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Shikiar Asset Management Inc. increased 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 valued at $342,000 after acquiring an additional 10,000 shares in the last quarter. PVG Asset Management Corp purchased a new position in Fortress Biotech during the 2nd quarter valued at about $266,000. B. Riley Wealth Advisors Inc. purchased a new position in Fortress Biotech during the 2nd quarter valued at about $207,000. Atria Investments Inc boosted its stake in shares of Fortress Biotech by 58.4% during the 3rd quarter. Atria Investments Inc now owns 71,484 shares of the biopharmaceutical company’s stock worth $103,000 after purchasing an additional 26,351 shares during the last quarter. Finally, Integrated Wealth Concepts LLC boosted its stake in shares of Fortress Biotech by 68.2% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 46,100 shares of the biopharmaceutical company’s stock worth $67,000 after purchasing an additional 18,700 shares during the last quarter. 96.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on FBIO shares. StockNews.com cut shares of Fortress Biotech from a “hold” rating to a “sell” rating in a research note on Friday, November 15th. HC Wainwright raised their price target on shares of Fortress Biotech from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $13.67.

Fortress Biotech Trading Down 3.0 %

Shares of FBIO opened at $1.97 on Tuesday. Fortress Biotech, Inc. has a twelve month low of $1.36 and a twelve month high of $2.89. The firm has a market capitalization of $54.38 million, a P/E ratio of -0.65 and a beta of 1.67. The stock’s fifty day simple moving average is $1.90 and its 200 day simple moving average is $1.87.

About Fortress Biotech

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.