Mustang Bio (MBIO) Rating Increased to Hold at ValuEngine
ValuEngine upgraded shares of Mustang Bio (NASDAQ:MBIO) from a sell rating to a hold rating in a research report sent to investors on Tuesday morning.
Separately, Zacks Investment Research upgraded shares of Mustang Bio from a hold rating to a buy rating and set a $7.25 price target for the company in a research report on Saturday, August 18th.
MBIO traded down $0.09 during trading on Tuesday, hitting $4.54. 42,241 shares of the company traded hands, compared to its average volume of 81,882. The firm has a market cap of $162.21 million, a P/E ratio of -6.05 and a beta of 0.26. Mustang Bio has a one year low of $4.46 and a one year high of $12.89.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Element Capital Management LLC bought a new position in Mustang Bio during the first quarter valued at about $135,000. A.R.T. Advisors LLC bought a new position in Mustang Bio during the first quarter valued at about $186,000. BlackRock Inc. grew its position in Mustang Bio by 904.5% during the first quarter. BlackRock Inc. now owns 21,646 shares of the company’s stock valued at $237,000 after buying an additional 19,491 shares during the period. Northern Trust Corp grew its position in Mustang Bio by 76.7% during the first quarter. Northern Trust Corp now owns 28,364 shares of the company’s stock valued at $310,000 after buying an additional 12,316 shares during the period. Finally, Schwab Charles Investment Management Inc. bought a new position in Mustang Bio during the second quarter valued at about $216,000. Institutional investors own 9.27% 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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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