National Asset Management Inc. Raises Stake in Mustang Bio, Inc. (NASDAQ:MBIO)

National Asset Management Inc. grew its stake in shares of Mustang Bio, Inc. (NASDAQ:MBIOGet Rating) by 16.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 310,926 shares of the company’s stock after purchasing an additional 43,090 shares during the quarter. National Asset Management Inc.’s holdings in Mustang Bio were worth $315,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Sassicaia Capital Advisers LLC purchased a new stake in shares of Mustang Bio during the fourth quarter valued at $26,000. Arete Wealth Advisors LLC purchased a new stake in Mustang Bio in the fourth quarter worth about $26,000. GSA Capital Partners LLP lifted its stake in Mustang Bio by 135.3% in the fourth quarter. GSA Capital Partners LLP now owns 1,318,400 shares of the company’s stock worth $2,189,000 after acquiring an additional 758,185 shares during the period. Envestnet Asset Management Inc. lifted its stake in Mustang Bio by 139.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 42,311 shares of the company’s stock worth $70,000 after acquiring an additional 24,633 shares during the period. Finally, ProShare Advisors LLC purchased a new stake in Mustang Bio in the fourth quarter worth about $48,000. 27.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. B. Riley lowered their price objective on shares of Mustang Bio from $5.00 to $4.00 in a research note on Thursday, July 14th. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Mustang Bio in a research note on Friday, May 20th.

Mustang Bio Trading Down 6.3 %

Mustang Bio stock opened at $0.58 on Friday. The company has a current ratio of 11.51, a quick ratio of 11.51 and a debt-to-equity ratio of 0.28. Mustang Bio, Inc. has a 12 month low of $0.51 and a 12 month high of $3.09. The stock’s 50 day simple moving average is $0.63 and its two-hundred day simple moving average is $0.83. The firm has a market cap of $59.77 million, a PE ratio of -0.75 and a beta of 1.70.

Mustang Bio (NASDAQ:MBIOGet Rating) last released its quarterly earnings data on Thursday, May 12th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.02). Analysts anticipate that Mustang Bio, Inc. will post -0.85 earnings per share for the current year.

Mustang Bio Company Profile

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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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Institutional Ownership by Quarter for Mustang Bio (NASDAQ:MBIO)

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