Mustang Bio (MBIO) Downgraded by ValuEngine to Sell
ValuEngine lowered shares of Mustang Bio (NASDAQ:MBIO) from a hold rating to a sell rating in a research report sent to investors on Wednesday.
Separately, Zacks Investment Research raised Mustang Bio from a hold rating to a buy rating and set a $7.25 price target on the stock in a research report on Saturday, August 18th.
Shares of Mustang Bio stock traded up $0.15 on Wednesday, reaching $4.99. 35,680 shares of the company were exchanged, compared to its average volume of 41,214. The firm has a market capitalization of $131.95 million, a PE ratio of -6.65 and a beta of 0.24. Mustang Bio has a fifty-two week low of $4.46 and a fifty-two week high of $12.89.
A number of large investors have recently bought and sold shares of MBIO. Element Capital Management LLC acquired a new position in Mustang Bio during the first quarter valued at $135,000. A.R.T. Advisors LLC acquired a new position in Mustang Bio during the first quarter valued at $186,000. Schwab Charles Investment Management Inc. acquired a new position in Mustang Bio during the second quarter valued at $216,000. Spark Investment Management LLC acquired a new position in Mustang Bio during the second quarter valued at $217,000. Finally, BlackRock Inc. raised its position in Mustang Bio by 904.5% during the first quarter. BlackRock Inc. now owns 21,646 shares of the company’s stock valued at $237,000 after buying an additional 19,491 shares during the period. 9.53% of the stock is currently owned by hedge funds and other institutional investors.
Mustang Bio Company Profile
Mustang Bio, Inc, a clinical-stage biopharmaceutical company, focuses on the acquisition, development, and commercialization of novel cancer immunotherapy products based on the chimeric antigen receptor engineered T (CAR T) cell technology. The company's CAR T product candidates include MB-101, a IL13Ra2 CAR T cell program which is in Phase I clinical study for glioblastoma; and MB-102, a CD123 CAR T cell program to treat acute myeloid leukemia and blastic plasmacytoid dendritic cell neoplasm; and MB-106, a CD20 CAR T cell program that is in Phase I clinical study for the treatment of B cell non-Hodgkin lymphoma.
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To view ValuEngine’s full report, visit ValuEngine’s official website.
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