Parametric Portfolio Associates LLC decreased its position in Fortress Biotech, Inc. (NASDAQ:FBIO) by 0.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,311 shares of the biopharmaceutical company’s stock after selling 484 shares during the period. Parametric Portfolio Associates LLC owned 0.11% of Fortress Biotech worth $212,000 at the end of the most recent reporting period.
Separately, Bank of New York Mellon Corp raised its position in Fortress Biotech by 4.9% in the first quarter. Bank of New York Mellon Corp now owns 110,061 shares of the biopharmaceutical company’s stock worth $408,000 after buying an additional 5,170 shares in the last quarter. 13.18% of the stock is owned by hedge funds and other institutional investors.
Shares of Fortress Biotech, Inc. (NASDAQ:FBIO) opened at 4.25 on Friday. The firm’s market capitalization is $214.74 million. The company’s 50-day moving average is $4.44 and its 200 day moving average is $3.83. Fortress Biotech, Inc. has a 52-week low of $1.88 and a 52-week high of $5.07.
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Several equities analysts have commented on FBIO shares. HC Wainwright set a $11.00 target price on shares of Fortress Biotech and gave the company a “buy” rating in a report on Tuesday, July 11th. Zacks Investment Research raised shares of Fortress Biotech from a “sell” rating to a “buy” rating and set a $4.50 target price on the stock in a report on Monday, May 15th. FBR & Co reissued a “buy” rating and issued a $11.00 target price on shares of Fortress Biotech in a report on Friday, May 12th. Rodman & Renshaw assumed coverage on shares of Fortress Biotech in a report on Tuesday, July 11th. They set a “buy” rating and a $11.00 price target on the stock. Finally, ValuEngine raised shares of Fortress Biotech from a “sell” rating to a “hold” rating in a report on Wednesday, June 7th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $9.67.
Fortress Biotech Company Profile
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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