Mustang Bio (NASDAQ:MBIO) Trading Down 4.7% – Time to Sell?

Mustang Bio, Inc. (NASDAQ:MBIO)’s stock price was down 4.7% during trading on Tuesday . The company traded as low as $0.6701 and last traded at $0.7034. Approximately 76,675 shares changed hands during trading, a decline of 76% from the average daily volume of 322,294 shares. The stock had previously closed at $0.7381.

Analysts Set New Price Targets

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

Mustang Bio Stock Down 4.7%

The company’s fifty day moving average is $0.71 and its 200-day moving average is $0.89. The company has a market cap of $5.33 million, a PE ratio of -1.47 and a beta of 2.08.

Mustang Bio (NASDAQ:MBIO) last issued its earnings results on Tuesday, May 5th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($140.00) by $139.86.

Institutional Investors Weigh In On Mustang Bio

An institutional investor recently raised its position in Mustang Bio stock. Kestra Advisory Services LLC increased its stake in Mustang Bio, Inc. (NASDAQ:MBIO) by 68.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 111,042 shares of the company’s stock after purchasing an additional 44,934 shares during the quarter. Kestra Advisory Services LLC owned 1.52% of Mustang Bio worth $109,000 at the end of the most recent quarter. Institutional investors and hedge funds own 9.95% of the company’s stock.

Mustang Bio Company Profile

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.