Shares of Mustang Bio Inc (NASDAQ:MBIO) shot up 5.4% on Tuesday . The stock traded as high as $4.36 and last traded at $4.33, 157,857 shares changed hands during trading. A decline of 70% from the average session volume of 524,168 shares. The stock had previously closed at $4.11.

A number of research firms recently issued reports on MBIO. Zacks Investment Research downgraded Mustang Bio from a “hold” rating to a “sell” rating in a report on Tuesday, August 20th. ValuEngine upgraded Mustang Bio from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. HC Wainwright set a $7.00 price target on Mustang Bio and gave the stock a “buy” rating in a research report on Friday, August 23rd. Finally, Cantor Fitzgerald began coverage on shares of Mustang Bio in a research note on Thursday, June 20th. They set an “overweight” rating and a $7.00 price target for the company. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $9.13.

The firm has a market cap of $175.14 million, a P/E ratio of -3.80 and a beta of 2.11. The business’s 50-day moving average is $3.60 and its two-hundred day moving average is $3.75. The company has a debt-to-equity ratio of 0.21, a current ratio of 13.10 and a quick ratio of 13.10.

Mustang Bio (NASDAQ:MBIO) last issued its quarterly earnings results on Friday, August 9th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.05). Equities research analysts predict that Mustang Bio Inc will post -1.14 EPS for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in MBIO. Geode Capital Management LLC grew its holdings in shares of Mustang Bio by 4.1% in the 4th quarter. Geode Capital Management LLC now owns 170,217 shares of the company’s stock valued at $500,000 after acquiring an additional 6,741 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in Mustang Bio during the second quarter worth about $736,000. National Asset Management Inc. raised its holdings in Mustang Bio by 31.0% during the second quarter. National Asset Management Inc. now owns 107,874 shares of the company’s stock worth $397,000 after acquiring an additional 25,549 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Mustang Bio by 94.2% during the second quarter. JPMorgan Chase & Co. now owns 7,646 shares of the company’s stock valued at $27,000 after purchasing an additional 3,708 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new position in Mustang Bio during the second quarter valued at approximately $364,000. Institutional investors own 26.90% of the company’s stock.

About Mustang Bio (NASDAQ:MBIO)

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.

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