Mustang Bio (NASDAQ:MBIO) Shares Down 5.1% – What’s Next?

Mustang Bio, Inc. (NASDAQ:MBIO)’s share price was down 5.1% on Monday . The stock traded as low as $1.08 and last traded at $1.11. Approximately 131,630 shares were traded during trading, a decline of 60% from the average daily volume of 327,880 shares. The stock had previously closed at $1.17.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Mustang Bio from a “sell” rating to a “hold” rating in a report on Saturday, May 24th.

Mustang Bio Stock Performance

The stock has a 50-day moving average of $1.24 and a 200-day moving average of $3.69. The firm has a market cap of $4.86 million, a price-to-earnings ratio of -0.01 and a beta of 2.24.

Mustang Bio (NASDAQ:MBIO) last announced its earnings results on Wednesday, May 14th. The company reported ($0.05) earnings per share (EPS) for the quarter. Sell-side analysts predict that Mustang Bio, Inc. will post -35 EPS for the current fiscal year.

Institutional Investors Weigh In On Mustang Bio

A hedge fund recently bought a new stake in Mustang Bio stock. Anson Funds Management LP purchased a new stake in shares of Mustang Bio, Inc. (NASDAQ:MBIO) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 45,716 shares of the company’s stock, valued at approximately $57,000. Anson Funds Management LP owned about 1.04% of Mustang Bio as of its most recent filing with the Securities and Exchange Commission (SEC). 9.95% of the stock is owned by hedge funds and other institutional investors.

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.