Mustang Bio (NASDAQ:MBIO) Rating Increased to Hold at Wall Street Zen

Mustang Bio (NASDAQ:MBIO) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Mustang Bio Stock Down 2.3%

Shares of NASDAQ MBIO opened at $1.25 on Friday. The stock has a market capitalization of $4.13 million, a price-to-earnings ratio of -0.02 and a beta of 2.27. The stock’s fifty day simple moving average is $1.27 and its 200 day simple moving average is $4.96. Mustang Bio has a 52-week low of $1.01 and a 52-week high of $65.00.

Mustang Bio (NASDAQ:MBIO) last issued its earnings results on Wednesday, May 14th. The company reported ($0.05) earnings per share (EPS) for the quarter. As a group, analysts anticipate that Mustang Bio will post -35 earnings per share for the current year.

Hedge Funds Weigh In On Mustang Bio

An institutional investor recently raised its position in Mustang Bio stock. Geode Capital Management LLC increased its stake in Mustang Bio, Inc. (NASDAQ:MBIO) by 15.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 284,437 shares of the company’s stock after acquiring an additional 38,951 shares during the quarter. Geode Capital Management LLC owned approximately 29.63% of Mustang Bio worth $50,000 at the end of the most recent quarter. 9.95% of the stock is currently owned by institutional investors and hedge funds.

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.