Fortress Biotech, Inc. (NASDAQ:FBIO) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

A number of other equities analysts have also commented on FBIO. FBR & Co reaffirmed a “buy” rating on shares of Fortress Biotech in a research note on Tuesday, July 4th. Rodman & Renshaw initiated coverage on Fortress Biotech in a research note on Tuesday, July 11th. They issued a “buy” rating and a $11.00 price objective on the stock. HC Wainwright set a $11.00 price objective on Fortress Biotech and gave the stock a “buy” rating in a research note on Tuesday, July 11th. Finally, Zacks Investment Research lowered Fortress Biotech from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Two equities research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. Fortress Biotech currently has a consensus rating of “Hold” and a consensus price target of $11.00.

Shares of Fortress Biotech (NASDAQ:FBIO) opened at 4.57 on Tuesday. The stock has a 50 day moving average price of $4.55 and a 200-day moving average price of $4.19. Fortress Biotech has a 52 week low of $1.88 and a 52 week high of $5.13. The company’s market capitalization is $230.91 million.

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A number of institutional investors and hedge funds have recently modified their holdings of the business. National Asset Management Inc. lifted its stake in Fortress Biotech by 38.4% in the second quarter. National Asset Management Inc. now owns 28,850 shares of the biopharmaceutical company’s stock valued at $138,000 after buying an additional 8,000 shares during the period. State Street Corp lifted its stake in Fortress Biotech by 14.8% in the second quarter. State Street Corp now owns 467,711 shares of the biopharmaceutical company’s stock valued at $2,222,000 after buying an additional 60,121 shares during the period. Parametric Portfolio Associates LLC lifted its stake in Fortress Biotech by 3.3% in the second quarter. Parametric Portfolio Associates LLC now owns 59,224 shares of the biopharmaceutical company’s stock valued at $281,000 after buying an additional 1,913 shares during the period. Northern Trust Corp lifted its stake in Fortress Biotech by 2.1% in the second quarter. Northern Trust Corp now owns 386,435 shares of the biopharmaceutical company’s stock valued at $1,836,000 after buying an additional 7,858 shares during the period. Finally, State of Wisconsin Investment Board acquired a new position in Fortress Biotech in the second quarter valued at approximately $119,000. 11.99% of the stock is currently owned by hedge funds and other institutional investors.

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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