Mustang Bio (NASDAQ:MBIO) Announces Quarterly Earnings Results, Beats Estimates By $139.86 EPS

Mustang Bio (NASDAQ:MBIO) issued its earnings results on Tuesday. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($140.00) by $139.86, FiscalAI reports.

Mustang Bio Stock Up 2.9%

MBIO stock traded up $0.02 during midday trading on Tuesday, hitting $0.77. The stock had a trading volume of 57,280 shares, compared to its average volume of 38,775. Mustang Bio has a 52 week low of $0.53 and a 52 week high of $7.00. The stock has a 50-day simple moving average of $0.83 and a 200 day simple moving average of $1.03.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Mustang Bio stock. Kestra Advisory Services LLC raised its stake in shares of Mustang Bio, Inc. (NASDAQ:MBIO) by 68.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 111,042 shares of the company’s stock after acquiring an additional 44,934 shares during the quarter. Kestra Advisory Services LLC owned approximately 1.52% of Mustang Bio worth $109,000 as of its most recent filing with the SEC. 9.95% of the stock is currently 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.