Mustang Bio (NASDAQ:MBIO) Announces Earnings Results

Mustang Bio (NASDAQ:MBIO) posted its quarterly earnings data on Wednesday. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($140.00) by $139.84, FiscalAI reports.

Mustang Bio Price Performance

Shares of MBIO traded up $0.03 during mid-day trading on Friday, reaching $0.61. The company had a trading volume of 15,191 shares, compared to its average volume of 131,533. The company’s 50-day moving average is $0.67 and its 200-day moving average is $0.77. Mustang Bio has a twelve month low of $0.53 and a twelve month high of $1.88. The company has a market capitalization of $4.59 million, a P/E ratio of -1.26 and a beta of 2.06.

Institutional Investors Weigh In On Mustang Bio

A number of large investors have recently bought and sold shares of the business. DRW Securities LLC acquired a new stake in shares of Mustang Bio in the 4th quarter valued at $73,000. Kestra Advisory Services LLC grew its holdings in shares of Mustang Bio by 68.0% in the 4th quarter. Kestra Advisory Services LLC now owns 111,042 shares of the company’s stock valued at $109,000 after buying an additional 44,934 shares during the period. Finally, BlackRock Inc. bought a new stake in shares of Mustang Bio in the second quarter worth about $59,000. 9.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Mustang Bio in a report on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Mustang Bio currently has an average rating of “Sell”.

Mustang Bio Company Profile

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.