Mustang Bio Inc (NASDAQ:MBIO) hit a new 52-week low on Monday . The stock traded as low as $3.67 and last traded at $3.72, with a volume of 2138 shares. The stock had previously closed at $4.15.
MBIO has been the topic of several recent research reports. Zacks Investment Research cut Mustang Bio from a “hold” rating to a “sell” rating in a research note on Wednesday, November 21st. Oppenheimer set a $18.00 price target on Mustang Bio and gave the stock a “buy” rating in a research note on Friday, November 16th. Finally, ValuEngine raised Mustang Bio from a “sell” rating to a “hold” rating in a research note on Tuesday, October 9th.
The company has a market capitalization of $113.14 million, a price-to-earnings ratio of -4.89 and a beta of 1.66.
Mustang Bio (NASDAQ:MBIO) last released its earnings results on Tuesday, November 13th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.08). As a group, equities analysts forecast that Mustang Bio Inc will post -0.98 EPS for the current fiscal year.
In related news, Director Lindsay A. Md Rosenwald bought 50,000 shares of the business’s stock in a transaction dated Friday, November 2nd. The shares were purchased at an average cost of $4.41 per share, with a total value of $220,500.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.60% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. purchased a new stake in shares of Mustang Bio in the second quarter worth $216,000. BlackRock Inc. grew its stake in shares of Mustang Bio by 904.5% in the first quarter. BlackRock Inc. now owns 21,646 shares of the company’s stock worth $237,000 after acquiring an additional 19,491 shares during the last quarter. Spark Investment Management LLC purchased a new stake in shares of Mustang Bio in the second quarter worth $217,000. Bank of New York Mellon Corp grew its stake in shares of Mustang Bio by 252.4% in the second quarter. Bank of New York Mellon Corp now owns 43,557 shares of the company’s stock worth $300,000 after acquiring an additional 31,197 shares during the last quarter. Finally, Millennium Management LLC grew its stake in shares of Mustang Bio by 271.7% in the first quarter. Millennium Management LLC now owns 101,029 shares of the company’s stock worth $1,105,000 after acquiring an additional 73,850 shares during the last quarter. 9.73% of the stock is currently owned by hedge funds and other institutional investors.
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About Mustang Bio (NASDAQ:MBIO)
Mustang Bio, Inc, a clinical-stage biopharmaceutical company, focuses on the acquisition, development, and commercialization of novel cancer immunotherapy products based on the chimeric antigen receptor engineered T (CAR T) cell technology. The company's CAR T product candidates include MB-101, a IL13Ra2 CAR T cell program which is in Phase I clinical study for glioblastoma; and MB-102, a CD123 CAR T cell program to treat acute myeloid leukemia and blastic plasmacytoid dendritic cell neoplasm; and MB-106, a CD20 CAR T cell program that is in Phase I clinical study for the treatment of B cell non-Hodgkin lymphoma.
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