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

Mustang Bio, Inc. (NASDAQ:MBIO)’s stock price rose 2% during trading on Tuesday . The company traded as high as $0.5488 and last traded at $0.5481. Approximately 18,064 shares changed hands during 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 report on Friday, July 17th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Mustang Bio Stock Performance

The stock has a market cap of $4.15 million, a price-to-earnings ratio of -1.22 and a beta of 2.05. The company’s 50 day simple moving average is $0.62 and its 200 day simple moving average is $0.72.

Mustang Bio (NASDAQ:MBIO) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($140.00) by $139.84.

Hedge Funds Weigh In On Mustang Bio

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

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.