Mustang Bio (NASDAQ:MBIO) Trading Down 4.7% – Time to Sell?

Mustang Bio, Inc. (NASDAQ:MBIO) fell 4.7% during mid-day trading on Tuesday . The stock traded as low as $0.6701 and last traded at $0.7034. 76,675 shares were traded during trading, a decline of 76% from the average session volume of 322,294 shares. The stock had previously closed at $0.7381.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Mustang Bio in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Mustang Bio Stock Down 4.7%

The firm has a market cap of $5.33 million, a PE ratio of -1.47 and a beta of 2.08. The stock’s fifty day simple moving average is $0.71 and its two-hundred day simple moving average is $0.89.

Mustang Bio (NASDAQ:MBIO) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($140.00) by $139.86.

Institutional Investors Weigh In On Mustang Bio

A hedge fund recently raised its stake in Mustang Bio stock. Kestra Advisory Services LLC grew its position in shares of Mustang Bio, Inc. (NASDAQ:MBIO) by 68.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 111,042 shares of the company’s stock after buying an additional 44,934 shares during the quarter. Kestra Advisory Services LLC owned 1.52% of Mustang Bio worth $109,000 as of its most recent filing with the Securities & Exchange Commission. 9.95% of the stock is owned by institutional investors and hedge funds.

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.