Mustang Bio (NASDAQ:MBIO) Announces Earnings Results

Mustang Bio (NASDAQ:MBIO) issued its quarterly earnings data on Friday. The company reported ($0.07) EPS for the quarter, FiscalAI reports.

Mustang Bio Stock Down 3.2%

Shares of MBIO stock traded down $0.04 during mid-day trading on Friday, hitting $1.22. The stock had a trading volume of 97,031 shares, compared to its average volume of 112,545. The company’s 50-day simple moving average is $1.53 and its 200-day simple moving average is $1.51. Mustang Bio has a fifty-two week low of $0.89 and a fifty-two week high of $21.95.

Institutional Investors Weigh In On Mustang Bio

An institutional investor recently bought a new position in Mustang Bio stock. Anson Funds Management LP purchased a new stake in Mustang Bio, Inc. (NASDAQ:MBIO) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 45,716 shares of the company’s stock, valued at approximately $57,000. Anson Funds Management LP owned approximately 1.04% of Mustang Bio as of its most recent SEC filing. 9.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on MBIO. Wall Street Zen upgraded Mustang Bio to a “hold” rating in a report on Friday, July 18th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mustang Bio in a report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has a consensus rating of “Sell”.

Mustang Bio Company Profile

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.