Mustang Bio Inc (NASDAQ:MBIO) – Oppenheimer increased their Q2 2019 EPS estimates for shares of Mustang Bio in a note issued to investors on Monday, May 13th. Oppenheimer analyst M. Breidenbach now expects that the company will earn ($0.24) per share for the quarter, up from their prior estimate of ($0.35). Oppenheimer currently has a “Buy” rating and a $18.00 target price on the stock. Oppenheimer also issued estimates for Mustang Bio’s Q3 2019 earnings at ($0.24) EPS, Q4 2019 earnings at ($0.25) EPS, FY2019 earnings at ($1.06) EPS, Q1 2020 earnings at ($0.24) EPS, Q2 2020 earnings at ($0.24) EPS, Q3 2020 earnings at ($0.26) EPS, Q4 2020 earnings at ($0.27) EPS, FY2020 earnings at ($1.01) EPS, FY2021 earnings at ($1.06) EPS, FY2022 earnings at ($0.98) EPS and FY2023 earnings at ($0.27) EPS.
Several other brokerages also recently weighed in on MBIO. ValuEngine downgraded Mustang Bio from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Zacks Investment Research downgraded Mustang Bio from a “hold” rating to a “sell” rating in a research report on Friday, March 22nd.
Shares of NASDAQ MBIO opened at $4.08 on Thursday. Mustang Bio has a 1-year low of $2.18 and a 1-year high of $10.20. The company has a quick ratio of 6.25, a current ratio of 5.64 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $151.39 million, a PE ratio of -3.58 and a beta of 2.57.
Mustang Bio (NASDAQ:MBIO) last issued its earnings results on Friday, May 10th. The company reported ($0.34) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.37) by $0.03.
Hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC purchased a new stake in shares of Mustang Bio in the fourth quarter worth about $37,000. Rhumbline Advisers boosted its position in shares of Mustang Bio by 49.9% in the fourth quarter. Rhumbline Advisers now owns 19,788 shares of the company’s stock worth $58,000 after buying an additional 6,590 shares during the period. State of Wisconsin Investment Board boosted its position in shares of Mustang Bio by 29.3% in the first quarter. State of Wisconsin Investment Board now owns 21,600 shares of the company’s stock worth $74,000 after buying an additional 4,900 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Mustang Bio by 39.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 43,779 shares of the company’s stock worth $150,000 after buying an additional 12,479 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Mustang Bio by 27.8% in the fourth quarter. Bank of New York Mellon Corp now owns 55,668 shares of the company’s stock worth $163,000 after acquiring an additional 12,111 shares in the last quarter. 8.58% of the stock is owned by institutional investors.
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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