Mustang Bio (NASDAQ:MBIO) Issues Quarterly Earnings Results

Mustang Bio (NASDAQ:MBIO) issued its quarterly earnings data on Thursday. The company reported ($0.14) earnings per share for the quarter, FiscalAI reports.

Mustang Bio Stock Up 0.2%

Mustang Bio stock traded up $0.00 during mid-day trading on Friday, reaching $0.39. 22,186 shares of the company’s stock were exchanged, compared to its average volume of 42,897. The company has a market cap of $2.99 million, a P/E ratio of -0.88 and a beta of 2.19. Mustang Bio has a twelve month low of $0.35 and a twelve month high of $1.43. The company has a fifty day moving average of $0.46 and a 200-day moving average of $0.67.

Hedge Funds Weigh In On Mustang Bio

An institutional investor recently raised its position in Mustang Bio stock. Kestra Advisory Services LLC lifted its stake in shares of Mustang Bio, Inc. (NASDAQ:MBIO) by 58.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 176,042 shares of the company’s stock after acquiring an additional 65,000 shares during the quarter. Kestra Advisory Services LLC owned 2.32% of Mustang Bio worth $128,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 9.95% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mustang Bio in a research note on Thursday, October 15th. One analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the stock currently has an average rating of “Sell”.

About Mustang Bio

Mustang Bio, Inc is a clinical-stage biopharmaceutical company focused on developing cell and gene therapies for serious diseases, including cancer and rare genetic disorders. The company’s work centers on engineered immune-cell therapies designed to recognize and attack cancer cells, as well as gene therapies intended to address underlying disease causes.

Mustang’s development programs have included CAR T-cell therapies for hematologic malignancies and solid tumors. Its pipeline has featured MB-106, an investigational CD20-targeted CAR T-cell therapy for certain B-cell cancers, and programs targeting glioblastoma and other difficult-to-treat cancers.