Shares of Mustang Bio, Inc. (NASDAQ:MBIO – Get Free Report) fell 4.5% during mid-day trading on Friday . The company traded as low as $2.20 and last traded at $2.32. 21,243 shares were traded during mid-day trading, a decline of 52% from the average session volume of 44,485 shares. The stock had previously closed at $2.43.
Wall Street Analyst Weigh In
MBIO has been the topic of a number of research analyst reports. BTIG Research dropped their price target on Mustang Bio from $20.00 to $16.00 and set a “buy” rating on the stock in a research note on Tuesday, August 15th. HC Wainwright reissued a “buy” rating and issued a $25.00 price target on shares of Mustang Bio in a report on Tuesday, August 15th. B. Riley boosted their price objective on Mustang Bio from $4.00 to $10.00 in a report on Friday, May 26th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $18.00 target price on shares of Mustang Bio in a research note on Thursday, August 24th.
Check Out Our Latest Stock Report on Mustang Bio
Mustang Bio Trading Down 4.5 %
Mustang Bio (NASDAQ:MBIO – Get Free Report) last released its quarterly earnings results on Monday, August 14th. The company reported ($2.00) earnings per share for the quarter, topping the consensus estimate of ($2.07) by $0.07. On average, equities research analysts anticipate that Mustang Bio, Inc. will post -6.3 EPS for the current fiscal year.
Institutional Trading of Mustang Bio
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC acquired a new stake in Mustang Bio during the 2nd quarter worth about $26,000. B. Riley Wealth Advisors Inc. bought a new stake in Mustang Bio in the second quarter worth approximately $64,000. Arete Wealth Advisors LLC bought a new stake in Mustang Bio in the first quarter worth approximately $5,696,000,000. Envestnet Asset Management Inc. lifted its stake in Mustang Bio by 42.9% in the first quarter. Envestnet Asset Management Inc. now owns 60,467 shares of the company’s stock valued at $61,000 after buying an additional 18,156 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its holdings in shares of Mustang Bio by 471.1% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 53,718 shares of the company’s stock worth $31,000 after buying an additional 44,312 shares in the last quarter. Institutional investors and hedge funds own 7.78% 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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