Mustang Bio, Inc. (NASDAQ:MBIO) Forecasted to Earn FY2023 Earnings of ($6.58) Per Share

Mustang Bio, Inc. (NASDAQ:MBIO) – HC Wainwright increased their FY2023 earnings per share estimates for Mustang Bio in a report released on Wednesday, November 15th. HC Wainwright analyst J. Pantginis now anticipates that the company will post earnings per share of ($6.58) for the year, up from their prior estimate of ($7.29). HC Wainwright currently has a “Buy” rating and a $25.00 target price on the stock. The consensus estimate for Mustang Bio’s current full-year earnings is ($7.29) per share. HC Wainwright also issued estimates for Mustang Bio’s Q4 2023 earnings at ($1.34) EPS.

MBIO has been the subject of a number of other research reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $18.00 price target on shares of Mustang Bio in a report on Thursday, August 24th. BTIG Research reduced their price target on Mustang Bio from $20.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday, August 15th.

Mustang Bio Stock Performance

Shares of MBIO opened at $1.68 on Monday. The company has a market capitalization of $13.94 million, a P/E ratio of -0.21 and a beta of 1.87. Mustang Bio has a one year low of $1.25 and a one year high of $11.08. The stock has a 50-day moving average price of $1.90 and a 200 day moving average price of $3.89.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Barclays PLC bought a new position in Mustang Bio during the 2nd quarter worth approximately $26,000. B. Riley Wealth Advisors Inc. bought a new position in Mustang Bio during the 2nd quarter worth approximately $64,000. Arete Wealth Advisors LLC bought a new position in Mustang Bio during the 1st quarter worth approximately $5,696,000,000. Cetera Advisor Networks LLC acquired a new stake in shares of Mustang Bio during the 2nd quarter worth approximately $31,000. Finally, BNP Paribas Arbitrage SA raised its position in shares of Mustang Bio by 471.1% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 53,718 shares of the company’s stock worth $31,000 after purchasing an additional 44,312 shares during the period. Institutional investors own 7.78% of the company’s stock.

About Mustang Bio

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.