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

Mustang Bio, Inc. (NASDAQ:MBIO) shot up 6% during trading on Monday . The stock 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.

Analysts Set New Price Targets

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

Mustang Bio Trading Up 6.0%

The company has a 50 day moving average price of $1.64 and a 200 day moving average price of $1.76. The company has a market capitalization of $7.71 million, a price-to-earnings ratio of -0.02 and a beta of 2.22.

Mustang Bio (NASDAQ:MBIO) last released its earnings results on Friday, August 8th. The company reported ($0.19) EPS for the quarter. Equities analysts predict that Mustang Bio, Inc. will post -35 earnings per share for the current year.

Institutional Investors Weigh In On Mustang Bio

A hedge fund recently raised its stake in Mustang Bio stock. Geode Capital Management LLC increased its stake in shares of Mustang Bio, Inc. (NASDAQ:MBIO) by 15.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 284,437 shares of the company’s stock after purchasing an additional 38,951 shares during the period. Geode Capital Management LLC owned approximately 29.63% of Mustang Bio worth $50,000 as of its most recent SEC filing. 9.95% of the stock is currently owned by 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.