The short interest in Fortress Biotech (NASDAQ:FBIO) has increased from 2,858,028 on May 31,2016 to 2,862,386 on June 15,2016. The change was measured at 4,358 shares or 0.2%. The leftover shorts were 10.5% of the floated shares. The days to cover are 44, given the average daily volume of 65,263 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
Fortress Biotech (NASDAQ:FBIO): The stock opened at $2.57 on Friday but the bulls could not build on the opening and the stock topped out at $2.66 for the day. The stock traded down to $2.43 during the day, due to lack of any buying support eventually closed down at $2.52 with a loss of -7.35% for the day. The stock had closed at $2.72 on the previous day. The total traded volume was 2,921,363 shares.
The company shares have dropped -21.74% from its 1 Year high price. On Apr 19, 2016, the shares registered one year high at $4.66 and the one year low was seen on Aug 24, 2015. The 50-Day Moving Average price is $2.80 and the 200 Day Moving Average price is recorded at $2.93.
Stocks of Fortress Biotech (NASDAQ:FBIO) rallied by 3.28% during the past week but lost 10.95% on a 4-week basis. The company has outperformed the S&P 500 by 4.99% in the past week but underperformed the index by 8.26% in the last 4 weeks.
Fortress Biotech, Inc., formerly Coronado Biosciences, Inc., is involved in the development of immunotherapy agents for the treatment of autoimmune diseases and cancer, namely, CNDO-201 or Trichuris suis ova (TSO) and CNDO-109. As of December 31, 2014, TSO, the microscopic eggs of the porcine whipworm, was in Phase II study stage for the treatment of immune-mediated diseases, such as Crohns disease (CD), ulcerative colitis (UC) or autism spectrum disorder (ASD). The Companys CNDO-109 is a biologic that activates natural killer (NK) cells of the immune system to seek and destroy cancer cells, and, as of December 31, 2014, was in Phase I/II clinical trial for the treatment of acute myeloid leukemia (AML). The Companys subsidiary, Journey Medical Corporation (JMC), focuses on acquiring, developing, licensing and commercializing branded dermatology products.