Zacks Investment Research lowered shares of Mustang Bio (NASDAQ:MBIO) from a buy rating to a hold rating in a research report sent to investors on Tuesday, Zacks.com reports.
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. “
Other analysts have also issued reports about the stock. Oppenheimer set a $13.00 price objective on shares of Alpine Immune Sciences and gave the stock a buy rating in a report on Tuesday, March 19th. Cantor Fitzgerald set a $8.00 price objective on shares of Pacific Biosciences of California and gave the stock a hold rating in a report on Thursday, June 20th. Finally, ValuEngine lowered shares of Intersect ENT from a buy rating to a hold rating in a report on Monday, July 8th.
Shares of Mustang Bio stock traded down $0.05 during trading on Tuesday, reaching $3.15. 1,606 shares of the stock were exchanged, compared to its average volume of 258,595. The company has a current ratio of 5.64, a quick ratio of 5.64 and a debt-to-equity ratio of 0.51. The stock’s fifty day moving average is $3.50. The firm has a market cap of $129.23 million, a price-to-earnings ratio of -2.81 and a beta of 2.40. Mustang Bio has a 1 year low of $2.18 and a 1 year high of $10.20.
Mustang Bio (NASDAQ:MBIO) last posted its earnings results on Friday, May 10th. The company reported ($0.34) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.37) by $0.03. On average, analysts predict that Mustang Bio will post -1.1 earnings per share for the current year.
Institutional investors and hedge funds have recently modified their holdings of the business. Rhumbline Advisers increased its stake in shares of Mustang Bio by 49.9% during the fourth quarter. Rhumbline Advisers now owns 19,788 shares of the company’s stock valued at $58,000 after purchasing an additional 6,590 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Mustang Bio by 27.8% during the fourth quarter. Bank of New York Mellon Corp now owns 55,668 shares of the company’s stock valued at $163,000 after purchasing an additional 12,111 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Mustang Bio by 4.1% during the fourth quarter. Geode Capital Management LLC now owns 170,217 shares of the company’s stock valued at $500,000 after purchasing an additional 6,741 shares in the last quarter. Finally, BlackRock Inc. increased its stake in shares of Mustang Bio by 0.7% during the fourth quarter. BlackRock Inc. now owns 825,043 shares of the company’s stock valued at $2,426,000 after purchasing an additional 5,566 shares in the last quarter. Institutional investors and hedge funds own 6.04% of the company’s stock.
Mustang Bio Company Profile
Mustang Bio, Inc, a clinical-stage biopharmaceutical company, focuses on translating medical breakthroughs in cell and gene therapies into potential cures for hematologic cancers, solid tumors, and rare genetic diseases. Its pipeline focuses on gene therapy programs for rare genetic disorders, chimeric antigen receptor (CAR) engineered T cell (CAR T) therapies for hematologic malignancies, and CAR T therapies for solid tumors.
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