Mustang Bio (NASDAQ:MBIO) Posts Earnings Results

Mustang Bio (NASDAQ:MBIO) issued its quarterly earnings data on Tuesday. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($140.00) by $139.86, FiscalAI reports.

Mustang Bio Stock Performance

Shares of Mustang Bio stock traded up $0.02 during trading on Tuesday, reaching $0.77. The company’s stock had a trading volume of 57,280 shares, compared to its average volume of 38,775. The stock has a 50-day moving average price of $0.83 and a two-hundred day moving average price of $1.03. Mustang Bio has a one year low of $0.53 and a one year high of $7.00.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Mustang Bio stock. Kestra Advisory Services LLC lifted its holdings in Mustang Bio, Inc. (NASDAQ:MBIO) by 68.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 111,042 shares of the company’s stock after buying an additional 44,934 shares during the quarter. Kestra Advisory Services LLC owned about 1.52% of Mustang Bio worth $109,000 at the end of the most recent quarter. 9.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mustang Bio in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Mustang Bio currently has an average rating of “Sell”.

About Mustang Bio

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.