Mustang Bio (NASDAQ:MBIO) Shares Cross Above Fifty Day Moving Average – Here’s Why

Mustang Bio, Inc. (NASDAQ:MBIO) shares crossed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $0.45 and traded as high as $0.4890. Mustang Bio shares last traded at $0.4506, with a volume of 211,166 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mustang Bio in a report on Thursday, October 15th. One investment analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Mustang Bio Trading Up 15.1%

The business has a 50 day moving average of $0.45 and a 200-day moving average of $0.67. The stock has a market cap of $3.41 million, a PE ratio of -1.00 and a beta of 2.19.

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

Institutional Trading of Mustang Bio

An institutional investor recently bought a new stake in Mustang Bio stock. BlackRock Inc. bought a new stake in Mustang Bio, Inc. (NASDAQ:MBIO) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 84,745 shares of the company’s stock, valued at approximately $59,000. BlackRock Inc. owned about 1.12% of Mustang Bio at the end of the most recent quarter. 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 developing cell and gene therapies for serious diseases, including cancer and rare genetic disorders. The company’s work centers on engineered immune-cell therapies designed to recognize and attack cancer cells, as well as gene therapies intended to address underlying disease causes. Mustang’s development programs have included CAR T-cell therapies for hematologic malignancies and solid tumors. Its pipeline has featured MB-106, an investigational CD20-targeted CAR T-cell therapy for certain B-cell cancers, and programs targeting glioblastoma and other difficult-to-treat cancers.