Mustang Bio (MBIO) Shares Gap Down to $6.28

Shares of Mustang Bio Inc (NASDAQ:MBIO) gapped down before the market opened on Tuesday . The stock had previously closed at $6.44, but opened at $6.28. Mustang Bio shares last traded at $6.05, with a volume of 3366996 shares.

Several analysts have recently weighed in on MBIO shares. Zacks Investment Research upgraded shares of Mustang Bio from a “sell” rating to a “hold” rating in a research report on Thursday, January 17th. Oppenheimer set a $18.00 price objective on shares of Mustang Bio and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Finally, ValuEngine upgraded shares of Mustang Bio from a “hold” rating to a “buy” rating in a research report on Monday, April 1st.

The stock has a market capitalization of $159.72 million, a price-to-earnings ratio of -5.31 and a beta of 2.37.

Mustang Bio (NASDAQ:MBIO) last issued its quarterly earnings data on Monday, March 18th. The company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.17). On average, sell-side analysts predict that Mustang Bio Inc will post -1.44 earnings per share for the current year.

Large investors have recently modified their holdings of the company. SG Americas Securities LLC purchased a new stake in Mustang Bio in the 4th quarter valued at $37,000. Rhumbline Advisers raised its position in Mustang Bio by 49.9% in the 4th quarter. Rhumbline Advisers now owns 19,788 shares of the company’s stock valued at $58,000 after purchasing an additional 6,590 shares during the last quarter. Fenimore Asset Management Inc. purchased a new stake in Mustang Bio in the 4th quarter valued at $112,000. Bank of New York Mellon Corp raised its position in Mustang Bio by 27.8% in the 4th quarter. Bank of New York Mellon Corp now owns 55,668 shares of the company’s stock valued at $163,000 after purchasing an additional 12,111 shares during the last quarter. Finally, National Asset Management Inc. raised its position in Mustang Bio by 13.4% in the 4th quarter. National Asset Management Inc. now owns 82,325 shares of the company’s stock valued at $243,000 after purchasing an additional 9,700 shares during the last quarter. Institutional investors and hedge funds own 8.71% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This story was first reported by Baseball Daily News and is the property of of Baseball Daily News. If you are viewing this story on another website, it was illegally copied and reposted in violation of international trademark and copyright legislation. The correct version of this story can be viewed at https://www.baseballdailydigest.com/news/2019/04/24/mustang-bio-mbio-shares-gap-down-to-6-28.html.

About Mustang Bio (NASDAQ:MBIO)

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.

See Also: Are Wall Street analysts’ stock ratings worth following?

Receive News & Ratings for Mustang Bio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mustang Bio and related companies with MarketBeat.com's FREE daily email newsletter.