Macquarie Group Ltd. Increases Position in Fortress Biotech (FBIO)

Macquarie Group Ltd. boosted its stake in Fortress Biotech (NASDAQ:FBIO) by 109.0% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 97,982 shares of the biopharmaceutical company’s stock after buying an additional 51,100 shares during the period. Macquarie Group Ltd. owned approximately 0.19% of Fortress Biotech worth $292,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. BlackRock Inc. grew its stake in Fortress Biotech by 6.6% in the 2nd quarter. BlackRock Inc. now owns 1,903,033 shares of the biopharmaceutical company’s stock valued at $5,671,000 after buying an additional 117,290 shares during the last quarter. Strs Ohio grew its position in shares of Fortress Biotech by 60.1% during the 2nd quarter. Strs Ohio now owns 202,100 shares of the biopharmaceutical company’s stock worth $602,000 after purchasing an additional 75,900 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of Fortress Biotech during the 2nd quarter worth approximately $460,000. The Manufacturers Life Insurance Company grew its position in shares of Fortress Biotech by 264.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 30,024 shares of the biopharmaceutical company’s stock worth $136,000 after purchasing an additional 21,792 shares in the last quarter. Finally, Citadel Advisors LLC acquired a new position in shares of Fortress Biotech during the 1st quarter worth approximately $126,000. Institutional investors and hedge funds own 13.61% of the company’s stock.

Shares of NASDAQ:FBIO opened at $1.36 on Tuesday. Fortress Biotech has a 12-month low of $1.31 and a 12-month high of $5.54. The company has a market cap of $86.95 million, a price-to-earnings ratio of -0.84 and a beta of 0.17. The company has a current ratio of 2.76, a quick ratio of 2.76 and a debt-to-equity ratio of 0.76.

Fortress Biotech (NASDAQ:FBIO) last announced its earnings results on Friday, August 10th. The biopharmaceutical company reported ($0.50) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.59) by $0.09. Fortress Biotech had a negative net margin of 47.97% and a negative return on equity of 71.96%. The firm had revenue of $63.83 million for the quarter, compared to analyst estimates of $48.93 million. Equities analysts expect that Fortress Biotech will post -2.21 earnings per share for the current fiscal year.

A number of research analysts have issued reports on the stock. Zacks Investment Research lowered shares of Fortress Biotech from a “hold” rating to a “sell” rating in a research report on Monday, June 25th. ValuEngine lowered shares of Fortress Biotech from a “buy” rating to a “hold” rating in a research report on Monday, July 16th. Finally, HC Wainwright set a $11.00 target price on shares of Fortress Biotech and gave the stock a “buy” rating in a research report on Friday, August 10th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Fortress Biotech has an average rating of “Buy” and an average price target of $10.67.

Fortress Biotech Profile

Fortress Biotech, Inc develops and commercializes pharmaceutical and biotechnology products. The company develops CNDO-109, a lysate that treats cancer-related and other conditions; tramadol HCl for managing postoperative pain; CAEL-101 for the treatment of amyloid light chain amyloidosis; and CEVA101 for severe traumatic brain injury in children and adults in the United States.

Further Reading: Dividend Aristocrat Index

Institutional Ownership by Quarter for Fortress Biotech (NASDAQ:FBIO)

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