Mustang Bio (NASDAQ:MBIO) Stock Price Down 2.5% – Here’s Why

Mustang Bio, Inc. (NASDAQ:MBIO) traded down 2.5% during mid-day trading on Monday . The stock traded as low as $0.75 and last traded at $0.7560. 27,806 shares changed hands during mid-day trading, a decline of 29% from the average session volume of 38,938 shares. The stock had previously closed at $0.7750.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Mustang Bio in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Mustang Bio Stock Performance

The business’s fifty day moving average is $0.88 and its two-hundred day moving average is $1.15. The company has a market cap of $5.73 million, a P/E ratio of -1.94 and a beta of 2.18.

Mustang Bio (NASDAQ:MBIO) last announced its quarterly earnings data on Thursday, March 19th. The company reported ($0.07) earnings per share for the quarter. Analysts expect that Mustang Bio, Inc. will post -35 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Mustang Bio stock. Kestra Advisory Services LLC lifted its position in Mustang Bio, Inc. (NASDAQ:MBIO) by 68.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 111,042 shares of the company’s stock after buying an additional 44,934 shares during the period. Kestra Advisory Services LLC owned approximately 1.52% of Mustang Bio worth $109,000 as of its most recent SEC filing. 9.95% of the stock is owned by hedge funds and other institutional investors.

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.