Fortress Biotech Target of Unusually High Options Trading (NASDAQ:FBIO)

Fortress Biotech, Inc. (NASDAQ:FBIO) was the target of some unusual options trading on Tuesday. Stock investors acquired 2,658 call options on the company. This represents an increase of approximately 91% compared to the average volume of 1,394 call options.

Fortress Biotech Trading Down 7.5%

Shares of FBIO traded down $0.32 during mid-day trading on Tuesday, reaching $3.89. 6,255,023 shares of the company were exchanged, compared to its average volume of 1,832,712. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.97 and a current ratio of 2.19. Fortress Biotech has a 52 week low of $1.33 and a 52 week high of $4.53. The business has a 50 day simple moving average of $3.15 and a two-hundred day simple moving average of $2.76. The stock has a market capitalization of $120.59 million, a PE ratio of -21.47 and a beta of 1.42.

Fortress Biotech (NASDAQ:FBIO) last released its earnings results on Friday, November 14th. The biopharmaceutical company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.54. The firm had revenue of $17.63 million for the quarter, compared to analysts’ expectations of $21.02 million. Fortress Biotech had a net margin of 6.40% and a negative return on equity of 69.39%. On average, analysts predict that Fortress Biotech will post -3.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fortress Biotech

Institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE grew its holdings in shares of Fortress Biotech by 923.3% in the third quarter. Bank of America Corp DE now owns 7,122 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 6,426 shares during the period. Abacus Planning Group Inc. purchased a new stake in shares of Fortress Biotech in the third quarter worth $54,000. Scientech Research LLC purchased a new stake in Fortress Biotech during the third quarter valued at $67,000. XTX Topco Ltd purchased a new position in shares of Fortress Biotech in the 2nd quarter worth approximately $42,000. Finally, Osaic Holdings Inc. grew its holdings in Fortress Biotech by 18.4% during the 2nd quarter. Osaic Holdings Inc. now owns 32,379 shares of the biopharmaceutical company’s stock valued at $60,000 after purchasing an additional 5,034 shares during the last quarter. Institutional investors own 96.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on FBIO. Weiss Ratings restated a “sell (d+)” rating on shares of Fortress Biotech in a research note on Monday, December 29th. Wall Street Zen raised Fortress Biotech from a “hold” rating to a “buy” rating in a research report on Sunday, November 23rd. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $16.50.

About Fortress Biotech

Fortress Biotech, Inc is a clinical‐stage biopharmaceutical company focused on acquiring, developing and commercializing novel pharmaceutical and biotechnology products. Headquartered in New York, the company operates through a network of majority‐owned subsidiaries that target areas of high unmet medical need, including oncology, rare diseases and dermatology. Fortress Biotech’s business model emphasizes in‐licensing or acquiring promising drug candidates and coordinating their development through specialized affiliate companies, allowing for flexible capital allocation and focused management of individual programs.

Through its portfolio of subsidiaries, Fortress Biotech advances a diversified pipeline spanning small molecules, biologics and cell therapies.