Zacks: Mustang Bio (MBIO) Receives Average Rating of “Strong Buy” from Analysts

Mustang Bio (NASDAQ:MBIO) has earned an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy rating.

Analysts have set a 12 month consensus price target of $18.00 for the company and are anticipating that the company will post ($0.25) EPS for the current quarter, according to Zacks. Zacks has also given Mustang Bio an industry rank of 164 out of 255 based on the ratings given to its competitors.

Several equities analysts have recently weighed in on MBIO shares. Zacks Investment Research upgraded Mustang Bio from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a report on Thursday, April 5th. ValuEngine upgraded Mustang Bio from a “sell” rating to a “hold” rating in a report on Wednesday, May 2nd.

Mustang Bio opened at $7.76 on Friday, Marketbeat.com reports. Mustang Bio has a fifty-two week low of $6.78 and a fifty-two week high of $13.35. The stock has a market cap of $195.21 million and a PE ratio of -10.35.

Mustang Bio (NASDAQ:MBIO) last released its quarterly earnings data on Monday, May 14th. The company reported ($0.24) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.01). The firm had revenue of $0.05 million during the quarter. analysts forecast that Mustang Bio will post -1.01 earnings per share for the current fiscal year.

Several large investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. bought a new position in shares of Mustang Bio during the 4th quarter valued at about $131,000. Northern Trust Corp lifted its stake in Mustang Bio by 76.7% in the 1st quarter. Northern Trust Corp now owns 28,364 shares of the company’s stock valued at $310,000 after acquiring an additional 12,316 shares in the last quarter. Element Capital Management LLC bought a new stake in Mustang Bio in the 1st quarter valued at approximately $135,000. Wells Fargo & Company MN bought a new stake in Mustang Bio in the 4th quarter valued at approximately $164,000. Finally, A.R.T. Advisors LLC bought a new stake in Mustang Bio in the 1st quarter valued at approximately $186,000. Institutional investors and hedge funds own 4.56% of the company’s stock.

Mustang Bio Company Profile

Mustang Bio, Inc, a clinical-stage biopharmaceutical company, focuses on the acquisition, development, and commercialization of novel cancer immunotherapy products based on the chimeric antigen receptor engineered T (CAR T) cell technology. The company's CAR T product candidates include MB-101, a IL13Ra2 CAR T cell program which is in Phase I clinical study for glioblastoma; and MB-102, a CD123 CAR T cell program to treat acute myeloid leukemia and blastic plasmacytoid dendritic cell neoplasm; and MB-106, a CD20 CAR T cell program that is in Phase I clinical study for the treatment of B cell non-Hodgkin lymphoma.

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