Mustang Bio, Inc. (NASDAQ:MBIO) Receives Average Recommendation of “Buy” from Brokerages

Mustang Bio, Inc. (NASDAQ:MBIO) has received an average rating of “Buy” from the six analysts that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $10.33.

A number of equities analysts recently commented on MBIO shares. Zacks Investment Research downgraded Mustang Bio from a “buy” rating to a “hold” rating in a research report on Monday, April 12th. BTIG Research started coverage on Mustang Bio in a research note on Monday, May 17th. They set a “buy” rating and a $11.00 target price for the company.

A number of hedge funds have recently bought and sold shares of MBIO. Barclays PLC grew its stake in shares of Mustang Bio by 24.4% in the fourth quarter. Barclays PLC now owns 16,253 shares of the company’s stock valued at $61,000 after buying an additional 3,190 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Mustang Bio by 24.1% in the fourth quarter. Rhumbline Advisers now owns 32,774 shares of the company’s stock valued at $124,000 after buying an additional 6,370 shares in the last quarter. Citigroup Inc. grew its stake in shares of Mustang Bio by 560.9% in the fourth quarter. Citigroup Inc. now owns 9,497 shares of the company’s stock valued at $36,000 after buying an additional 8,060 shares in the last quarter. Global Retirement Partners LLC grew its stake in shares of Mustang Bio by 200.0% in the first quarter. Global Retirement Partners LLC now owns 15,000 shares of the company’s stock valued at $50,000 after buying an additional 10,000 shares in the last quarter. Finally, ProShare Advisors LLC acquired a new stake in shares of Mustang Bio in the fourth quarter valued at $42,000. 28.63% of the stock is owned by institutional investors.

Mustang Bio stock traded down $0.04 during trading on Friday, reaching $3.77. 89,755 shares of the company were exchanged, compared to its average volume of 2,491,099. Mustang Bio has a 52-week low of $2.42 and a 52-week high of $5.22. The firm has a market capitalization of $329.17 million, a P/E ratio of -3.59 and a beta of 1.72. The firm’s 50 day moving average price is $3.21.

Mustang Bio (NASDAQ:MBIO) last announced its quarterly earnings data on Thursday, May 13th. The company reported ($0.19) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.19). On average, sell-side analysts expect that Mustang Bio will post -0.79 EPS for the current year.

About Mustang Bio

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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Analyst Recommendations for Mustang Bio (NASDAQ:MBIO)

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