Mustang Bio (NASDAQ:MBIO) Shares Up 2% – Here’s What Happened

Mustang Bio, Inc. (NASDAQ:MBIO) shares shot up 2% during mid-day trading on Tuesday . The company traded as high as $0.5488 and last traded at $0.5481. 18,064 shares were traded during trading, a decline of 23% from the average daily volume of 23,472 shares. The stock had previously closed at $0.5375.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Mustang Bio in a report on Friday, July 17th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

Mustang Bio Stock Up 3.3%

The firm has a market cap of $4.25 million, a P/E ratio of -1.25 and a beta of 2.05. The business’s 50 day moving average is $0.62 and its two-hundred day moving average is $0.72.

Mustang Bio (NASDAQ:MBIO) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($140.00) by $139.84.

Institutional Investors Weigh In On Mustang Bio

Several institutional investors and hedge funds have recently made changes to their positions in the business. DRW Securities LLC acquired a new stake in Mustang Bio during the fourth quarter worth approximately $73,000. Kestra Advisory Services LLC boosted its holdings in shares of Mustang Bio by 68.0% during the 4th quarter. Kestra Advisory Services LLC now owns 111,042 shares of the company’s stock worth $109,000 after buying an additional 44,934 shares in the last quarter. Finally, BlackRock Inc. bought a new position in shares of Mustang Bio during the 2nd quarter worth approximately $59,000. 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.