Oppenheimer Analysts Lift Earnings Estimates for Mustang Bio Inc (MBIO)
Mustang Bio Inc (NASDAQ:MBIO) – Equities researchers at Oppenheimer lifted their Q2 2019 EPS estimates for Mustang Bio in a research note issued to investors on Monday, May 13th. Oppenheimer analyst M. Breidenbach now anticipates that the company will post earnings of ($0.24) per share for the quarter, up from their prior forecast of ($0.35). Oppenheimer has a “Buy” rating and a $18.00 price objective on the stock. Oppenheimer also issued estimates for Mustang Bio’s Q3 2019 earnings at ($0.24) EPS, Q4 2019 earnings at ($0.25) EPS, FY2019 earnings at ($1.06) EPS, Q1 2020 earnings at ($0.24) EPS, Q2 2020 earnings at ($0.24) EPS, Q3 2020 earnings at ($0.26) EPS, Q4 2020 earnings at ($0.27) EPS, FY2020 earnings at ($1.01) EPS, FY2021 earnings at ($1.06) EPS, FY2022 earnings at ($0.98) EPS and FY2023 earnings at ($0.27) EPS.
Several other brokerages have also commented on MBIO. Zacks Investment Research lowered shares of Mustang Bio from a “hold” rating to a “sell” rating in a research report on Friday, March 22nd. ValuEngine raised shares of Mustang Bio from a “hold” rating to a “buy” rating in a research report on Monday, April 1st.
Mustang Bio (NASDAQ:MBIO) last posted its quarterly earnings data on Friday, May 10th. The company reported ($0.34) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.03.
A number of hedge funds have recently modified their holdings of MBIO. Renaissance Technologies LLC increased its position in Mustang Bio by 154.0% during the first quarter. Renaissance Technologies LLC now owns 91,200 shares of the company’s stock worth $311,000 after purchasing an additional 55,300 shares during the last quarter. BlackRock Inc. increased its position in Mustang Bio by 4.3% during the third quarter. BlackRock Inc. now owns 819,477 shares of the company’s stock worth $4,875,000 after purchasing an additional 33,997 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Mustang Bio by 39.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 43,779 shares of the company’s stock worth $150,000 after purchasing an additional 12,479 shares during the last quarter. SG Americas Securities LLC acquired a new position in Mustang Bio during the fourth quarter worth approximately $37,000. Finally, Bank of New York Mellon Corp increased its position in Mustang Bio by 27.8% during the fourth quarter. Bank of New York Mellon Corp now owns 55,668 shares of the company’s stock worth $163,000 after purchasing an additional 12,111 shares during the last quarter. 8.58% of the stock is owned by hedge funds and other institutional investors.
About Mustang Bio
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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