Mustang Bio (MBIO) Downgraded by ValuEngine to “Sell”

ValuEngine cut shares of Mustang Bio (NASDAQ:MBIO) from a hold rating to a sell rating in a report published on Wednesday.

Separately, Zacks Investment Research upgraded Mustang Bio from a hold rating to a buy rating and set a $7.25 price objective on the stock in a research report on Saturday, August 18th.

Mustang Bio stock traded up $0.04 during mid-day trading on Wednesday, hitting $4.80. The company had a trading volume of 100 shares, compared to its average volume of 80,931. Mustang Bio has a 12-month low of $4.46 and a 12-month high of $12.89. The firm has a market cap of $162.21 million, a PE ratio of -6.61 and a beta of 0.26.

Mustang Bio (NASDAQ:MBIO) last released its quarterly earnings data on Monday, August 13th. The company reported ($0.19) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.25) by $0.06. As a group, sell-side analysts forecast that Mustang Bio will post -0.84 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the business. Northern Trust Corp boosted its position in Mustang Bio by 76.7% in the 1st quarter. Northern Trust Corp now owns 28,364 shares of the company’s stock worth $310,000 after purchasing an additional 12,316 shares in the last quarter. Element Capital Management LLC purchased a new stake in Mustang Bio in the 1st quarter worth approximately $135,000. A.R.T. Advisors LLC purchased a new stake in Mustang Bio in the 1st quarter worth approximately $186,000. BlackRock Inc. boosted its position in Mustang Bio by 904.5% in the 1st quarter. BlackRock Inc. now owns 21,646 shares of the company’s stock worth $237,000 after purchasing an additional 19,491 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Mustang Bio by 252.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 43,557 shares of the company’s stock worth $300,000 after purchasing an additional 31,197 shares in the last quarter. Institutional investors and hedge funds own 9.27% 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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