Mustang Bio (NASDAQ:MBIO – Get Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday, Zacks.com reports.
According to Zacks, “Mustang Bio, Inc. a subsidiary of Fortress Biotech, Inc., is a clinical?stage biopharmaceutical company. It focused on the development and commercialization of novel cancer immunotherapy products designed to leverage the patient’s own immune system to eliminate cancer cells. Mustang Bio, Inc. is based in New York, United States. “
MBIO has been the subject of a number of other reports. B. Riley cut their price objective on shares of Mustang Bio from $6.00 to $5.00 in a report on Monday, May 23rd. HC Wainwright reissued a “buy” rating and issued a $7.00 target price on shares of Mustang Bio in a report on Friday, May 20th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $6.50.
Shares of NASDAQ:MBIO opened at $0.59 on Tuesday. The firm’s 50 day moving average price is $0.79 and its 200-day moving average price is $1.17. Mustang Bio has a twelve month low of $0.59 and a twelve month high of $4.06. The company has a quick ratio of 11.51, a current ratio of 11.51 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $60.80 million, a PE ratio of -0.77 and a beta of 1.78.
Mustang Bio (NASDAQ:MBIO – Get Rating) last released its earnings results on Wednesday, March 23rd. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.01). Analysts expect that Mustang Bio will post -0.85 earnings per share for the current fiscal year.
Large investors have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA raised its holdings in shares of Mustang Bio by 111.7% in the third quarter. BNP Paribas Arbitrage SA now owns 15,890 shares of the company’s stock valued at $43,000 after acquiring an additional 8,385 shares in the last quarter. Morgan Stanley raised its holdings in shares of Mustang Bio by 4.7% in the third quarter. Morgan Stanley now owns 267,056 shares of the company’s stock valued at $718,000 after acquiring an additional 11,888 shares in the last quarter. Citigroup Inc. raised its holdings in shares of Mustang Bio by 173.9% in the fourth quarter. Citigroup Inc. now owns 21,989 shares of the company’s stock valued at $37,000 after acquiring an additional 13,960 shares in the last quarter. National Asset Management Inc. raised its holdings in shares of Mustang Bio by 5.7% in the fourth quarter. National Asset Management Inc. now owns 267,836 shares of the company’s stock valued at $445,000 after acquiring an additional 14,561 shares in the last quarter. Finally, PVG Asset Management Corp bought a new stake in shares of Mustang Bio in the fourth quarter valued at about $25,000. Institutional investors and hedge funds own 27.84% of the company’s stock.
About Mustang Bio (Get Rating)
Mustang Bio, Inc, a clinical-stage biopharmaceutical company, focuses on translating medical breakthroughs in cell and gene therapies into potential cures for hematologic cancers, solid tumors, and rare genetic diseases. Its pipeline focuses on gene therapy programs for rare genetic disorders, chimeric antigen receptor (CAR) engineered T cell (CAR T) therapies for hematologic malignancies, and CAR T therapies for solid tumors.
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