Mustang Bio (NASDAQ:MBIO) Releases Quarterly Earnings Results

Mustang Bio (NASDAQ:MBIO) posted its earnings results on Thursday. The company reported ($0.14) earnings per share (EPS) for the quarter, FiscalAI reports.

Mustang Bio Trading Down 6.4%

NASDAQ:MBIO traded down $0.03 during mid-day trading on Thursday, hitting $0.39. The stock had a trading volume of 30,196 shares, compared to its average volume of 101,834. Mustang Bio has a twelve month low of $0.35 and a twelve month high of $1.43. The stock has a 50-day simple moving average of $0.46 and a two-hundred day simple moving average of $0.68. The company has a market capitalization of $2.93 million, a PE ratio of -0.86 and a beta of 2.19.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mustang Bio in a research report on Thursday, October 15th. One research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Institutional Investors Weigh In On Mustang Bio

An institutional investor recently raised its stake in Mustang Bio stock. Kestra Advisory Services LLC grew its position in Mustang Bio, Inc. (NASDAQ:MBIO) by 58.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 176,042 shares of the company’s stock after purchasing an additional 65,000 shares during the quarter. Kestra Advisory Services LLC owned approximately 2.32% of Mustang Bio worth $128,000 at the end of the most recent reporting period. 9.95% of the stock is currently owned by hedge funds and other institutional investors.

Mustang Bio Company Profile

Mustang Bio, Inc is a clinical-stage biopharmaceutical company focused on developing cell and gene therapies for serious diseases, including cancer and rare genetic disorders. The company’s work centers on engineered immune-cell therapies designed to recognize and attack cancer cells, as well as gene therapies intended to address underlying disease causes.

Mustang’s development programs have included CAR T-cell therapies for hematologic malignancies and solid tumors. Its pipeline has featured MB-106, an investigational CD20-targeted CAR T-cell therapy for certain B-cell cancers, and programs targeting glioblastoma and other difficult-to-treat cancers.