Mustang Bio (NASDAQ:MBIO) Trading Up 2% – Time to Buy?

Mustang Bio, Inc. (NASDAQ:MBIO)’s share price traded up 2% on Tuesday . The company traded as high as $0.5488 and last traded at $0.5481. 18,064 shares traded hands during mid-day trading, a decline of 23% from the average daily volume of 23,472 shares. The stock had previously closed at $0.5375.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Mustang Bio in a research note on Friday, July 17th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Mustang Bio presently has a consensus rating of “Sell”.

Mustang Bio Price Performance

The business’s 50-day moving average is $0.62 and its two-hundred day moving average is $0.72. The firm has a market cap of $4.15 million, a P/E ratio of -1.22 and a beta of 2.05.

Mustang Bio (NASDAQ:MBIO) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($140.00) by $139.84.

Institutional Trading of Mustang Bio

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Kestra Advisory Services LLC boosted its position in Mustang Bio by 68.0% during the fourth quarter. Kestra Advisory Services LLC now owns 111,042 shares of the company’s stock valued at $109,000 after purchasing an additional 44,934 shares during the last quarter. DRW Securities LLC acquired a new position in shares of Mustang Bio during the 4th quarter worth approximately $73,000. Finally, BlackRock Inc. bought a new stake in shares of Mustang Bio during the 2nd quarter worth approximately $59,000. Institutional investors own 9.95% of the company’s stock.

Mustang Bio Company Profile

Mustang Bio, Inc is a clinical‐stage biopharmaceutical company focused on the development and commercialization of novel cell and gene therapies for oncology and rare genetic diseases. The company’s primary platform leverages chimeric antigen receptor T‐cell (CAR-T) technology to target both hematologic and solid tumor indications. In parallel, Mustang Bio is advancing a portfolio of lentiviral‐based gene therapy candidates designed to address inherited metabolic disorders with high unmet medical need.

The company’s oncology pipeline includes programs directed at B-cell malignancies and aggressive brain tumors, with lead CAR-T candidates in clinical trials for glioblastoma multiforme and various B-cell leukemias and lymphomas.