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. “
Other research analysts have also issued research reports about the stock. Cantor Fitzgerald started coverage on shares of Mustang Bio in a report on Thursday, June 20th. They issued an overweight rating and a $7.00 price objective for the company. HC Wainwright started coverage on shares of Mustang Bio in a report on Tuesday, August 13th. They issued a buy rating and a $7.00 price objective for the company. Finally, ValuEngine upgraded shares of Mustang Bio from a hold rating to a buy rating in a report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $9.13.
Mustang Bio (NASDAQ:MBIO) last issued its quarterly earnings data on Friday, August 9th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). As a group, research analysts expect that Mustang Bio will post -1.14 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. increased its position in Mustang Bio by 0.7% during the 4th quarter. BlackRock Inc. now owns 825,043 shares of the company’s stock valued at $2,426,000 after purchasing an additional 5,566 shares during the period. Geode Capital Management LLC increased its position in Mustang Bio by 4.1% during the 4th quarter. Geode Capital Management LLC now owns 170,217 shares of the company’s stock valued at $500,000 after purchasing an additional 6,741 shares during the period. Bank of New York Mellon Corp increased its position in Mustang Bio by 27.8% during 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 period. FNY Investment Advisers LLC acquired a new stake in Mustang Bio during the 2nd quarter valued at approximately $736,000. Finally, Parametric Portfolio Associates LLC increased its position in 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 purchasing an additional 9,855 shares during the period. Institutional investors and hedge funds 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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