Fortress Biotech Inc. (NASDAQ:FBIO) SVP George Avgerinos sold 48,912 shares of the business’s stock in a transaction on Friday, September 16th. The stock was sold at an average price of $2.55, for a total transaction of $124,725.60. Following the transaction, the senior vice president now directly owns 293,000 shares in the company, valued at approximately $747,150. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of Fortress Biotech Inc. (NASDAQ:FBIO) opened at 3.00 on Friday. Fortress Biotech Inc. has a one year low of $2.10 and a one year high of $4.66. The company’s market cap is $146.00 million. The firm has a 50-day moving average of $2.76 and a 200 day moving average of $2.98.
Fortress Biotech (NASDAQ:FBIO) last issued its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.29) by $0.02. Fortress Biotech had a negative return on equity of 79.62% and a negative net margin of 1,687.06%. Equities research analysts anticipate that Fortress Biotech Inc. will post ($1.03) EPS for the current year.
Several institutional investors have recently modified their holdings of FBIO. Teachers Advisors Inc. acquired a new position in shares of Fortress Biotech during the second quarter valued at $146,000. Schwab Charles Investment Management Inc. purchased a new position in Fortress Biotech during the second quarter valued at $154,000. Parametric Portfolio Associates LLC boosted its position in Fortress Biotech by 0.6% in the second quarter. Parametric Portfolio Associates LLC now owns 57,196 shares of the biopharmaceutical company’s stock valued at $154,000 after buying an additional 344 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Fortress Biotech by 369.1% in the first quarter. Goldman Sachs Group Inc. now owns 57,548 shares of the biopharmaceutical company’s stock valued at $178,000 after buying an additional 45,280 shares in the last quarter. Finally, Landscape Capital Management L.L.C. boosted its position in Fortress Biotech by 208.0% in the first quarter. Landscape Capital Management L.L.C. now owns 69,290 shares of the biopharmaceutical company’s stock valued at $215,000 after buying an additional 46,790 shares in the last quarter. 16.67% of the stock is owned by institutional investors.
A number of equities analysts recently issued reports on FBIO shares. Zacks Investment Research raised shares of Fortress Biotech from a “hold” rating to a “buy” rating and set a $3.00 target price on the stock in a research report on Tuesday. FBR & Co reissued an “outperform” rating on shares of Fortress Biotech in a report on Wednesday, July 20th.
About Fortress Biotech
Fortress Biotech, Inc, formerly Coronado Biosciences, Inc, is a biopharmaceutical company. The Company is involved in the development of immunotherapy agents for the treatment of autoimmune diseases and cancer. Its sole product candidate is CNDO-109. The Company is also focused on acquiring, developing and commercializing pharmaceutical and biotechnology products.
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