Mustang Bio (NASDAQ:MBIO) Stock Price Down 5.3% – What’s Next?

Shares of Mustang Bio, Inc. (NASDAQ:MBIOGet Free Report) dropped 5.3% during trading on Friday . The stock traded as low as $1.25 and last traded at $1.25. Approximately 27,845 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 94,096 shares. The stock had previously closed at $1.32.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Mustang Bio in a research report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Check Out Our Latest Report on MBIO

Mustang Bio Stock Down 5.3%

The firm’s 50 day moving average is $1.40 and its 200-day moving average is $1.52. The firm has a market cap of $9.13 million, a PE ratio of -4.03 and a beta of 2.08.

Mustang Bio (NASDAQ:MBIOGet Free Report) last issued its quarterly earnings results on Friday, November 7th. The company reported ($0.07) earnings per share for the quarter. On average, analysts forecast that Mustang Bio, Inc. will post -35 earnings per share for the current year.

Hedge Funds Weigh In On Mustang Bio

An institutional investor recently bought a new position in Mustang Bio stock. Anson Funds Management LP acquired a new position in Mustang Bio, Inc. (NASDAQ:MBIOFree Report) during the first quarter, according to its most recent 13F filing with the SEC. The firm acquired 45,716 shares of the company’s stock, valued at approximately $57,000. Anson Funds Management LP owned 1.38% of Mustang Bio at the end of the most recent reporting period. Hedge funds and other institutional investors own 9.95% of the company’s stock.

About Mustang Bio

(Get Free Report)

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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