Belmont Global Advisors Lowers stake in Fortress Biotech Inc (FBIO)

Fortress Biotech Inc (FBIO) : Belmont Global Advisors reduced its stake in Fortress Biotech Inc by 9.84% during the most recent quarter end. The investment management company now holds a total of 550,000 shares of Fortress Biotech Inc which is valued at $1,562,000 after selling 60,000 shares in Fortress Biotech Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Fortress Biotech Inc makes up approximately 2.83% of Belmont Global Advisors’s portfolio.

Other Hedge Funds, Including , D. E. Shaw reduced its stake in FBIO by selling 20,964 shares or 51.33% in the most recent quarter. The Hedge Fund company now holds 19,881 shares of FBIO which is valued at $56,462. Tiaa Cref Investment Management added FBIO to its portfolio by purchasing 113,227 company shares during the most recent quarter which is valued at $321,565.Vanguard Group Inc boosted its stake in FBIO in the latest quarter, The investment management firm added 91,242 additional shares and now holds a total of 1,345,439 shares of Fortress Biotech Inc which is valued at $3,821,047.Clarivest Asset Management boosted its stake in FBIO in the latest quarter, The investment management firm added 41,100 additional shares and now holds a total of 117,719 shares of Fortress Biotech Inc which is valued at $356,689. Fortress Biotech Inc makes up approx 0.01% of Clarivest Asset Management’s portfolio.Simplex Trading boosted its stake in FBIO in the latest quarter, The investment management firm added 72 additional shares and now holds a total of 475 shares of Fortress Biotech Inc which is valued at $1,392.

Fortress Biotech Inc (FBIO) witnessed a volatile trading activity on Thursday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $2.76 and reached the intraday high at $2.82. The bulls started the profit booking and pushed the shares to intraday low of $2.71. The trading session was marked by a volume range of 51,566 shares exchanging hands. The 52-week high of the shares is $4.66 and the 52-week low is $2.1. The market cap of the company stands at $133 M and there are 4,86,68,630 shares in public circulation.

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 Crohn’s disease (CD) ulcerative colitis (UC) or autism spectrum disorder (ASD). The Company’s 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 Company’s subsidiary Journey Medical Corporation (JMC) focuses on acquiring developing licensing and commercializing branded dermatology products.

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