Fortress Biotech Inc (NASDAQ:FBIO) Extends Rally: Heading Higher?

In the past month, the Fortress Biotech Inc (NASDAQ:FBIO) stock has emerged as one of the stronger performers and during the period, it has clocked gains of 16%. There has been no recent news about the company but the rally in the stock might be related to the biopharmaceutical company’s performance in the quarter that ended on March 31, 2021.

The results were announced last month. At the end of the quarter, Fortress had restricted cash, cash and cash equivalents to the tune of $295.1 million.

It reflected a considerable improvement on the $235 in restricted cash, cash and cash equivalents in the previous quarter. On the other hand, the net revenues for the quarter came in at $11.6 million and as much as $10.7 million of the revenues were generated by Fortress’ marketed dermatology products. In the prior year period, the revenues had stood at $12.9 million and out of that marketed dermatology products made up $11.9 million.

Trader Action:

As of 12.19: FBIO stock is trading up by 1.74% to $4.37. More than 391K million shares traded hands, compared to its average volume of 1.70 million shares. The stock has gained over 16% in the past month.

Technical Indicators

CCI20174.6134BuyChaikin Money Flow-0.0314Neutral
MACD0.0558BuyMoney Flow Index72.2515Buy
STOCH (14,3)91.7808OverBoughtSTOCH RSI1.0000OverBought
UO50.3669BuyWilliams %R-8.2192OverBought

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