Mustang Bio (NASDAQ:MBIO) Shares Up 6% – What’s Next?

Shares of Mustang Bio, Inc. (NASDAQ:MBIO) shot up 6% during trading on Monday . The company traded as high as $1.86 and last traded at $1.76. 302,683 shares were traded during mid-day trading, a decline of 21% from the average session volume of 383,007 shares. The stock had previously closed at $1.66.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded Mustang Bio to a “hold” rating in a research report on Friday, July 18th.

Mustang Bio Stock Performance

The firm has a market cap of $7.71 million, a P/E ratio of -0.02 and a beta of 2.22. The company has a 50-day moving average of $1.64 and a 200 day moving average of $1.76.

Mustang Bio (NASDAQ:MBIO) last posted its earnings results on Friday, August 8th. The company reported ($0.19) EPS for the quarter. Sell-side analysts anticipate that Mustang Bio, Inc. will post -35 EPS for the current fiscal year.

Hedge Funds Weigh In On Mustang Bio

An institutional investor recently raised its position in Mustang Bio stock. Geode Capital Management LLC raised its holdings in Mustang Bio, Inc. (NASDAQ:MBIO) by 15.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 284,437 shares of the company’s stock after purchasing an additional 38,951 shares during the quarter. Geode Capital Management LLC owned approximately 29.63% of Mustang Bio worth $50,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 9.95% of the company’s stock.

Mustang Bio Company Profile

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.