Mustang Bio (MBIO) Rating Increased to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Mustang Bio (NASDAQ:MBIO) from a hold rating to a buy rating in a research report report published on Thursday morning. Zacks Investment Research currently has $12.00 target price on the stock.

According to Zacks, “Mustang Bio, Inc. a subsidiary of Fortress Biotech, Inc., is a clinical?stage biopharmaceutical company. It focused on the development and commercialization of novel cancer immunotherapy products designed to leverage the patient’s own immune system to eliminate cancer cells. Mustang Bio, Inc. is based in New York, United States. “

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A number of other research firms have also recently commented on MBIO. CIBC began coverage on Mustang Bio in a research report on Thursday, December 21st. They set an outperform rating and a $18.00 target price on the stock. Oppenheimer began coverage on Mustang Bio in a research report on Wednesday, December 20th. They set an outperform rating and a $18.00 target price on the stock.

NASDAQ:MBIO opened at $10.37 on Thursday. Mustang Bio has a 52 week low of $8.06 and a 52 week high of $13.35.

Several large investors have recently bought and sold shares of the company. Geode Capital Management LLC acquired a new stake in shares of Mustang Bio during the 4th quarter valued at about $639,000. Millennium Management LLC acquired a new stake in shares of Mustang Bio during the 4th quarter valued at about $326,000. Wells Fargo & Company MN acquired a new stake in shares of Mustang Bio during the 4th quarter valued at about $164,000. Finally, Goldman Sachs Group Inc. acquired a new stake in shares of Mustang Bio during the 4th quarter valued at about $131,000. Hedge funds and other institutional investors own 2.92% of the company’s stock.

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Mustang Bio Company Profile

Mustang Bio, Inc is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of cancer immunotherapy products designed to utilize the power of the patient’s own immune system to eliminate cancer cells. It seeks to acquire rights to technologies by licensing or otherwise acquiring an ownership interest in the technologies, funding their research and development and eventually either out-licensing or bringing the technologies to market.

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