Analysts Expect Mustang Bio Inc (NASDAQ:MBIO) Will Announce Earnings of -$0.27 Per Share

Analysts forecast that Mustang Bio Inc (NASDAQ:MBIO) will report earnings of ($0.27) per share for the current quarter, Zacks reports. Zero analysts have made estimates for Mustang Bio’s earnings. The lowest EPS estimate is ($0.28) and the highest is ($0.26). Mustang Bio reported earnings per share of ($0.28) in the same quarter last year, which indicates a positive year-over-year growth rate of 3.6%. The firm is scheduled to announce its next earnings report on Tuesday, November 12th.

On average, analysts expect that Mustang Bio will report full-year earnings of ($1.14) per share for the current fiscal year, with EPS estimates ranging from ($1.18) to ($1.11). For the next financial year, analysts forecast that the firm will post earnings of ($1.11) per share, with EPS estimates ranging from ($1.33) to ($0.93). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that follow Mustang Bio.

Mustang Bio (NASDAQ:MBIO) last posted its earnings results on Friday, August 9th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.24) by ($0.05).

A number of research firms have weighed in on MBIO. ValuEngine upgraded Mustang Bio from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Zacks Investment Research cut Mustang Bio from a “hold” rating to a “sell” rating in a report on Tuesday, August 20th. HC Wainwright began coverage on Mustang Bio in a report on Tuesday, August 13th. They issued a “buy” rating and a $7.00 price target for the company. Finally, Cantor Fitzgerald began coverage on Mustang Bio in a report on Thursday, June 20th. They issued an “overweight” rating and a $7.00 price target for the company. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $9.13.

NASDAQ MBIO traded down $0.33 on Friday, reaching $4.12. The company had a trading volume of 295,729 shares, compared to its average volume of 409,386. The firm has a market capitalization of $180.00 million, a PE ratio of -3.61 and a beta of 2.38. Mustang Bio has a 1 year low of $2.18 and a 1 year high of $10.20. The firm has a 50-day moving average of $3.38 and a 200-day moving average of $3.80. The company has a debt-to-equity ratio of 0.21, a current ratio of 13.10 and a quick ratio of 13.10.

Institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its stake in shares of Mustang Bio by 94.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 7,646 shares of the company’s stock valued at $27,000 after buying an additional 3,708 shares during the last quarter. Citadel Advisors LLC purchased a new position in shares of Mustang Bio during the 2nd quarter valued at approximately $42,000. Parametric Portfolio Associates LLC boosted its stake in shares of Mustang Bio by 57.4% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 27,038 shares of the company’s stock valued at $99,000 after buying an additional 9,855 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Mustang Bio during the 2nd quarter valued at approximately $117,000. Finally, Quinn Opportunity Partners LLC purchased a new position in shares of Mustang Bio during the 2nd quarter valued at approximately $131,000. Institutional investors own 10.75% of the company’s stock.

About Mustang Bio

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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Earnings History and Estimates for Mustang Bio (NASDAQ:MBIO)

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