Bank of New York Mellon Corp boosted its stake in shares of Mustang Bio, Inc. (NASDAQ:MBIO) by 55.0% during the fourth quarter, Holdings Channel reports. The firm owned 181,793 shares of the company’s stock after purchasing an additional 64,540 shares during the quarter. Bank of New York Mellon Corp’s holdings in Mustang Bio were worth $688,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently modified their holdings of the stock. Morgan Stanley raised its stake in Mustang Bio by 8.0% during the 3rd quarter. Morgan Stanley now owns 79,027 shares of the company’s stock valued at $249,000 after buying an additional 5,873 shares during the last quarter. ProShare Advisors LLC purchased a new stake in shares of Mustang Bio in the 4th quarter worth $42,000. ExodusPoint Capital Management LP purchased a new position in Mustang Bio during the third quarter valued at $36,000. Creative Planning bought a new stake in Mustang Bio during the fourth quarter valued at about $44,000. Finally, Sigma Planning Corp grew its holdings in Mustang Bio by 15.1% during the fourth quarter. Sigma Planning Corp now owns 102,912 shares of the company’s stock valued at $390,000 after purchasing an additional 13,513 shares during the period. Institutional investors own 25.75% of the company’s stock.
Shares of Mustang Bio stock opened at $3.18 on Thursday. Mustang Bio, Inc. has a twelve month low of $2.41 and a twelve month high of $5.22. The business has a 50-day moving average price of $3.48 and a 200-day moving average price of $3.57. The firm has a market cap of $270.86 million, a price-to-earnings ratio of -2.54 and a beta of 1.85.
In other Mustang Bio news, CEO Manuel Md Litchman acquired 165,562 shares of the stock in a transaction on Friday, March 5th. The stock was acquired at an average price of $3.12 per share, for a total transaction of $516,553.44. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.39% of the stock is owned by corporate insiders.
Several equities research analysts recently issued reports on the stock. Zacks Investment Research raised shares of Mustang Bio from a “hold” rating to a “buy” rating and set a $4.75 target price for the company in a report on Friday, January 29th. B. Riley restated a “buy” rating and set a $13.00 target price on shares of Mustang Bio in a research note on Wednesday, December 23rd. Five investment analysts have rated the stock with a buy rating, Mustang Bio has an average rating of “Buy” and an average price target of $9.44.
Mustang Bio Profile
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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