Mustang Bio (NASDAQ:MBIO) Releases Quarterly Earnings Results
Mustang Bio (NASDAQ:MBIO) released its quarterly earnings data on Tuesday. The company reported ($0.25) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.26) by $0.01, Fidelity Earnings reports.
Shares of MBIO traded down $0.03 during mid-day trading on Thursday, hitting $2.61. 11,083 shares of the company’s stock traded hands, compared to its average volume of 276,531. The company has a quick ratio of 13.10, a current ratio of 13.10 and a debt-to-equity ratio of 0.21. Mustang Bio has a 1 year low of $2.18 and a 1 year high of $10.20. The firm has a market capitalization of $109.62 million, a P/E ratio of -2.27 and a beta of 2.05. The business’s 50-day moving average price is $2.97 and its 200-day moving average price is $3.53.
MBIO has been the subject of several recent research reports. ValuEngine raised Mustang Bio from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. HC Wainwright reiterated a “buy” rating and issued a $7.00 price objective on shares of Mustang Bio in a research report on Tuesday. Zacks Investment Research downgraded Mustang Bio from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Mustang Bio in a research report on Friday, October 18th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Mustang Bio has an average rating of “Buy” and an average price target of $8.81.
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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