Keeping an Eye on Fortress Biotech Inc. (FBIO) After Insider Trading Activity


Fortress Biotech Inc.’s recently made public that its President, CEO & Chairman ROSENWALD LINDSAY A MD acquired Company’s shares for reported $93400.0 on Aug 18. In the deal valued at $9.34 per share,10,000 shares were bought. As a result of this transaction, ROSENWALD LINDSAY A MD now holds 112,500 shares worth roughly $ 45000.0.

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Then, ROSENWALD LINDSAY A MD bought 10,000 shares, generating $117,500 in total proceeds. Upon buying the shares at $11.75, the President, CEO & Chairman now owns 102,500 shares.

Before that, ROSENWALD LINDSAY A MD bought 2,395,209 shares. Fortress Biotech Inc. shares valued at $2,000,000 were divested by the President, CEO & Chairman at a price of $0.83 per share. As a result of the transaction, ROSENWALD LINDSAY A MD now holds 15,349,091 shares, worth roughly $6.14 million.

Ladenburg Thalmann initiated its Fortress Biotech Inc. [FBIO] rating to a Buy in a research note published on Friday, August 04, 2022; the price target was $6. PT values the company’s stock at a premium of 93.33 to its Friday closing price.

Price Performance Review of FBIO

On Friday, Fortress Biotech Inc. [NASDAQ:FBIO] saw its stock jump 13.91% to $0.40. On the same session, the stock had its day’s lowest price of $0.343, but rose to a high of $0.417. Over the last five days, the stock has gained 1.61%. Fortress Biotech Inc. shares have fallen nearly -39.13% since the year began. Nevertheless, the stocks have fallen -60.91% over the past one year. While a 52-week high of $1.16 was reached on 01/18/23, a 52-week low of $0.31 was recorded on 08/31/23. SMA at 50 days reached $0.5144, while 200 days put it at $0.6688. A total of 0.56 million shares were traded, compared to the trading of 2.27 million shares in the previous session.

Levels Of Support And Resistance For FBIO Stock

The 24-hour chart illustrates a support level at 0.3555, which if violated will result in even more drops to 0.3122. On the upside, there is a resistance level at 0.4295. A further resistance level may holdings at 0.4602. The Relative Strength Index (RSI) on the 14-day chart is 39.04, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.0403, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 56.74%. Stochastics %K at 23.04% indicates the stock is a holding.

How much short interest is there in Fortress Biotech Inc.?

A steep rise in short interest was recorded in Fortress Biotech Inc. stocks on Aug 14, 2023, dropping by 40350.0 shares to a total of 0.57 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 0.61 million shares. There was a decline of -7.04%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 0.58% of the overall stock float, the days-to-cover ratio (short ratio) fell to 0.68.

According to FactSet, Fortress Biotech Inc.’s share price will average $8.75 in the next year, based on opinions of analysts polled by the firm. This is up nearly 1185.71 percent from its previous closing price of $0.35. Analysts expect Fortress Biotech Inc. stock to reach the higher price of $24.00, while the lowest price estimate is $2.00. However, 4 analysts have rated FBIO stock as a Buy in their predictions for 2023.


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