Mustang Bio (NASDAQ:MBIO) Shares Down 2.5% – Here’s Why

Mustang Bio, Inc. (NASDAQ:MBIO)’s stock price dropped 2.5% during trading on Monday . The company traded as low as $0.75 and last traded at $0.7560. Approximately 27,806 shares traded hands during trading, a decline of 29% from the average daily volume of 38,938 shares. The stock had previously closed at $0.7750.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Mustang Bio in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has an average rating of “Sell”.

Mustang Bio Stock Up 1.2%

The firm has a market cap of $5.68 million, a P/E ratio of -1.92 and a beta of 2.18. The firm’s fifty day moving average is $0.88 and its two-hundred day moving average is $1.14.

Mustang Bio (NASDAQ:MBIO) last released its quarterly earnings results on Thursday, March 19th. The company reported ($0.07) earnings per share for the quarter. As a group, sell-side analysts forecast that Mustang Bio, Inc. will post -35 EPS for the current year.

Institutional Trading of Mustang Bio

A hedge fund recently raised its stake in Mustang Bio stock. Kestra Advisory Services LLC boosted its stake in Mustang Bio, Inc. (NASDAQ:MBIO) by 68.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 111,042 shares of the company’s stock after buying an additional 44,934 shares during the period. Kestra Advisory Services LLC owned 1.52% of Mustang Bio worth $109,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 9.95% of the company’s stock.

About Mustang Bio

Mustang Bio, Inc is a clinical?stage biopharmaceutical company focused on the development and commercialization of novel cell and gene therapies for oncology and rare genetic diseases. The company’s primary platform leverages chimeric antigen receptor T?cell (CAR-T) technology to target both hematologic and solid tumor indications. In parallel, Mustang Bio is advancing a portfolio of lentiviral?based gene therapy candidates designed to address inherited metabolic disorders with high unmet medical need.

The company’s oncology pipeline includes programs directed at B-cell malignancies and aggressive brain tumors, with lead CAR-T candidates in clinical trials for glioblastoma multiforme and various B-cell leukemias and lymphomas.