Oppenheimer Analysts Cut Earnings Estimates for Mustang Bio, Inc. (NASDAQ:MBIO)

Mustang Bio, Inc. (NASDAQ:MBIOGet Rating) – Investment analysts at Oppenheimer decreased their Q3 2023 earnings per share estimates for shares of Mustang Bio in a research note issued to investors on Wednesday, November 16th. Oppenheimer analyst M. Breidenbach now anticipates that the company will earn ($0.20) per share for the quarter, down from their previous estimate of ($0.19). The consensus estimate for Mustang Bio’s current full-year earnings is ($0.79) per share. Oppenheimer also issued estimates for Mustang Bio’s Q4 2023 earnings at ($0.17) EPS, FY2025 earnings at ($0.60) EPS and FY2026 earnings at ($0.62) EPS.

Separately, BTIG Research dropped their price objective on shares of Mustang Bio from $8.00 to $4.00 and set a “buy” rating on the stock in a research note on Wednesday.

Mustang Bio Stock Performance

Mustang Bio stock opened at $0.52 on Friday. The firm has a market capitalization of $55.45 million, a PE ratio of -0.66 and a beta of 1.64. Mustang Bio has a one year low of $0.40 and a one year high of $2.28. The stock’s 50 day moving average price is $0.49 and its 200 day moving average price is $0.60. The company has a debt-to-equity ratio of 0.42, a quick ratio of 9.96 and a current ratio of 6.97.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Laurion Capital Management LP purchased a new stake in Mustang Bio during the 2nd quarter worth approximately $846,000. Renaissance Technologies LLC grew its position in shares of Mustang Bio by 105.4% during the first quarter. Renaissance Technologies LLC now owns 2,449,100 shares of the company’s stock worth $2,474,000 after buying an additional 1,256,470 shares in the last quarter. Millennium Management LLC increased its stake in shares of Mustang Bio by 3,861.8% in the second quarter. Millennium Management LLC now owns 643,231 shares of the company’s stock worth $376,000 after buying an additional 626,995 shares during the last quarter. Vanguard Group Inc. raised its holdings in Mustang Bio by 22.1% in the third quarter. Vanguard Group Inc. now owns 2,666,959 shares of the company’s stock valued at $1,252,000 after acquiring an additional 482,361 shares in the last quarter. Finally, Spotlight Asset Group Inc. bought a new position in Mustang Bio during the 3rd quarter valued at $138,000. Institutional investors and hedge funds own 16.61% of the company’s stock.

About Mustang Bio

(Get Rating)

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.

See Also

Earnings History and Estimates for Mustang Bio (NASDAQ:MBIO)

Receive News & Ratings for Mustang Bio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mustang Bio and related companies with MarketBeat.com's FREE daily email newsletter.