Mustang Bio Inc (MBIO) Receives Average Recommendation of “Strong Buy” from Brokerages

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Mustang Bio Inc (NASDAQ:MBIO) has earned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy rating.

Brokers have set a 12-month consensus price objective of $18.00 for the company and are expecting that the company will post ($0.20) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Mustang Bio an industry rank of 92 out of 255 based on the ratings given to related companies.

Several equities research analysts have recently commented on MBIO shares. Zacks Investment Research upgraded Mustang Bio from a “hold” rating to a “buy” rating and set a $8.25 price objective for the company in a report on Wednesday, May 23rd. ValuEngine downgraded Mustang Bio from a “hold” rating to a “sell” rating in a report on Thursday, August 23rd.

MBIO stock traded down $0.36 during mid-day trading on Friday, reaching $6.44. The company’s stock had a trading volume of 53,100 shares, compared to its average volume of 88,006. The company has a market cap of $188.66 million and a P/E ratio of -8.97. Mustang Bio has a 12 month low of $5.87 and a 12 month high of $13.00.

Mustang Bio (NASDAQ:MBIO) last released its quarterly earnings data on Monday, August 13th. The company reported ($0.19) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.25) by $0.06. research analysts predict that Mustang Bio will post -0.84 EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. bought a new stake in shares of Mustang Bio during the fourth quarter valued at approximately $131,000. Element Capital Management LLC bought a new stake in shares of Mustang Bio during the first quarter valued at approximately $135,000. Wells Fargo & Company MN bought a new stake in shares of Mustang Bio during the fourth quarter valued at approximately $164,000. A.R.T. Advisors LLC bought a new stake in shares of Mustang Bio during the first quarter valued at approximately $186,000. Finally, Schwab Charles Investment Management Inc. bought a new stake in shares of Mustang Bio during the second quarter valued at approximately $216,000. Hedge funds and other institutional investors own 9.52% 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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