Mustang Bio (NASDAQ:MBIO) Shares Down 1.6% – What’s Next?

Shares of Mustang Bio, Inc. (NASDAQ:MBIO) fell 1.6% during mid-day trading on Tuesday . The company traded as low as $0.61 and last traded at $0.6220. 32,397 shares traded hands during trading, a decline of 22% from the average session volume of 41,424 shares. The stock had previously closed at $0.6321.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Mustang Bio in a report on Tuesday, April 21st. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Mustang Bio currently has an average rating of “Sell”.

Mustang Bio Price Performance

The stock’s fifty day simple moving average is $0.73 and its 200-day simple moving average is $0.94. The company has a market capitalization of $4.71 million, a P/E ratio of -1.30 and a beta of 2.11.

Mustang Bio (NASDAQ:MBIO) last released its earnings results on Tuesday, May 5th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($140.00) by $139.86.

Institutional Investors Weigh In On Mustang Bio

A hedge fund recently bought a new stake in Mustang Bio stock. DRW Securities LLC purchased a new position in shares of Mustang Bio, Inc. (NASDAQ:MBIO) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 73,936 shares of the company’s stock, valued at approximately $73,000. DRW Securities LLC owned 1.01% of Mustang Bio as of its most recent SEC filing. Institutional investors own 9.95% of the company’s stock.

About Mustang Bio

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.