Mustang Bio (NASDAQ:MBIO) Shares Down 1.3% – Here’s What Happened

Shares of Mustang Bio, Inc. (NASDAQ:MBIO) fell 1.3% on Tuesday. The company traded as low as $0.4030 and last traded at $0.4094. Approximately 14,429 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 42,897 shares. The stock had previously closed at $0.4150.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Mustang Bio in a research note on Thursday, October 15th. One research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the stock presently has an average rating of “Sell”.

Mustang Bio Trading Down 1.3%

The company has a market capitalization of $3.10 million, a PE ratio of -0.91 and a beta of 2.19. The business’s 50-day simple moving average is $0.47 and its 200-day simple moving average is $0.68.

Mustang Bio (NASDAQ:MBIO) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($140.00) by $139.84.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Mustang Bio stock. BlackRock Inc. bought a new stake in shares of Mustang Bio, Inc. (NASDAQ:MBIO) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 84,745 shares of the company’s stock, valued at approximately $59,000. BlackRock Inc. owned 1.12% of Mustang Bio at the end of the most recent reporting period. Institutional investors and hedge funds own 9.95% of the company’s stock.

Mustang Bio Company Profile

Mustang Bio, Inc is a clinical-stage biopharmaceutical company focused on developing cell and gene therapies for serious diseases, including cancer and rare genetic disorders. The company’s work centers on engineered immune-cell therapies designed to recognize and attack cancer cells, as well as gene therapies intended to address underlying disease causes.

Mustang’s development programs have included CAR T-cell therapies for hematologic malignancies and solid tumors. Its pipeline has featured MB-106, an investigational CD20-targeted CAR T-cell therapy for certain B-cell cancers, and programs targeting glioblastoma and other difficult-to-treat cancers.