Mustang Bio (NASDAQ:MBIO) Posts Quarterly Earnings Results

Mustang Bio (NASDAQ:MBIO) posted its quarterly earnings data on Wednesday. The company reported ($0.16) earnings per share (EPS) for the quarter, FiscalAI reports.

Mustang Bio Stock Performance

MBIO traded down $0.02 on Thursday, hitting $0.58. 9,488 shares of the company were exchanged, compared to its average volume of 132,280. Mustang Bio has a 12 month low of $0.53 and a 12 month high of $1.88. The firm has a fifty day simple moving average of $0.67 and a two-hundred day simple moving average of $0.77. The stock has a market capitalization of $4.36 million, a PE ratio of -1.20 and a beta of 2.06.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mustang Bio in a research note on Friday, July 17th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Mustang Bio has an average rating of “Sell”.

Institutional Inflows and Outflows

A hedge fund recently raised its position in Mustang Bio stock. Kestra Advisory Services LLC increased its position in Mustang Bio, Inc. (NASDAQ:MBIO) by 68.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 111,042 shares of the company’s stock after buying an additional 44,934 shares during the quarter. Kestra Advisory Services LLC owned 1.52% of Mustang Bio worth $109,000 as of its most recent filing with the Securities & Exchange Commission. 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.