Mustang Bio (NASDAQ:MBIO) Posts Quarterly Earnings Results

Mustang Bio (NASDAQ:MBIO) announced its quarterly earnings results on Wednesday. The company reported ($0.16) earnings per share for the quarter, FiscalAI reports.

Mustang Bio Stock Up 0.5%

Shares of NASDAQ MBIO traded up $0.00 during trading on Wednesday, reaching $0.60. 6,740 shares of the company traded hands, compared to its average volume of 133,138. The firm has a 50 day simple moving average of $0.67 and a 200-day simple moving average of $0.77. The stock has a market capitalization of $4.52 million, a PE ratio of -1.24 and a beta of 2.06. Mustang Bio has a 52-week low of $0.53 and a 52-week high of $1.88.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mustang Bio in a research note on Friday, July 17th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

Institutional Trading of Mustang Bio

A hedge fund recently bought a new position in Mustang Bio stock. DRW Securities LLC bought a new position in shares of Mustang Bio, Inc. (NASDAQ:MBIO) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 73,936 shares of the company’s stock, valued at approximately $73,000. DRW Securities LLC owned about 1.01% of Mustang Bio as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 9.95% of the company’s stock.

About Mustang Bio

Mustang Bio, Inc is a clinical‐stage biopharmaceutical company focused on the development and commercialization of novel cell and gene therapies for oncology and rare genetic diseases. The company’s primary platform leverages chimeric antigen receptor T‐cell (CAR-T) technology to target both hematologic and solid tumor indications. In parallel, Mustang Bio is advancing a portfolio of lentiviral‐based gene therapy candidates designed to address inherited metabolic disorders with high unmet medical need.

The company’s oncology pipeline includes programs directed at B-cell malignancies and aggressive brain tumors, with lead CAR-T candidates in clinical trials for glioblastoma multiforme and various B-cell leukemias and lymphomas.