Zacks Investment Research upgraded shares of Mustang Bio (NASDAQ:MBIO) from a sell rating to a buy rating in a research report released on Friday, Zacks.com reports. They currently have $4.50 target price on the stock.
According to Zacks, “Mustang Bio, Inc. a subsidiary of Fortress Biotech, Inc., is a clinical?stage biopharmaceutical company. It focused on the development and commercialization of novel cancer immunotherapy products designed to leverage the patient’s own immune system to eliminate cancer cells. Mustang Bio, Inc. is based in New York, United States. “
Several other analysts also recently weighed in on the company. ValuEngine downgraded Mustang Bio from a buy rating to a hold rating in a report on Wednesday, May 1st. Oppenheimer set a $18.00 price objective on Mustang Bio and gave the company a buy rating in a report on Tuesday, March 19th.
Mustang Bio (NASDAQ:MBIO) last released its quarterly earnings data on Friday, May 10th. The company reported ($0.34) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.03. On average, analysts anticipate that Mustang Bio will post -1.06 earnings per share for the current fiscal year.
Institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC bought a new position in Mustang Bio in the fourth quarter worth about $37,000. Rhumbline Advisers raised its holdings in Mustang Bio by 49.9% in the fourth quarter. Rhumbline Advisers now owns 19,788 shares of the company’s stock worth $58,000 after purchasing an additional 6,590 shares in the last quarter. State of Wisconsin Investment Board raised its holdings in Mustang Bio by 29.3% in the first quarter. State of Wisconsin Investment Board now owns 21,600 shares of the company’s stock worth $74,000 after purchasing an additional 4,900 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Mustang Bio by 39.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 43,779 shares of the company’s stock worth $150,000 after purchasing an additional 12,479 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Mustang Bio by 27.8% in the fourth quarter. Bank of New York Mellon Corp now owns 55,668 shares of the company’s stock worth $163,000 after purchasing an additional 12,111 shares in the last quarter. Institutional investors and hedge funds own 8.58% of the company’s stock.
Mustang Bio Company Profile
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.
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