Mustang Bio (NASDAQ:MBIO) Shares Down 1.3% – Should You Sell?

Mustang Bio, Inc. (NASDAQ:MBIO) shares fell 1.3% during mid-day trading on Tuesday. The company traded as low as $0.4030 and last traded at $0.4094. Approximately 14,429 shares changed hands during trading, a decline of 66% from the average daily volume of 42,897 shares. The stock had previously closed at $0.4150.

Analyst Ratings Changes

Separately, Weiss Ratings restated 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 MarketBeat.com, the company currently has a consensus rating of “Sell”.

Mustang Bio Stock Down 4.8%

The firm has a 50 day simple moving average of $0.46 and a two-hundred day simple moving average of $0.68.

Mustang Bio (NASDAQ:MBIO) last announced its quarterly earnings results on Thursday, November 5th. The company reported ($0.14) earnings per share (EPS) for the quarter.

Institutional Investors Weigh In On Mustang Bio

An institutional investor recently bought a new stake in Mustang Bio stock. BlackRock Inc. bought a new stake in shares of Mustang Bio, Inc. (NASDAQ:MBIO) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 84,745 shares of the company’s stock, valued at approximately $59,000. BlackRock Inc. owned 1.12% of Mustang Bio as of its most recent SEC filing. Hedge funds and other institutional investors own 9.95% of the company’s stock.

Mustang Bio Company Profile

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.