Mustang Bio (NASDAQ:MBIO) Given New $2.00 Price Target at HC Wainwright

Mustang Bio (NASDAQ:MBIO) had its price objective cut by HC Wainwright from $25.00 to $2.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have a buy rating on the stock. HC Wainwright also issued estimates for Mustang Bio’s Q2 2024 earnings at ($0.13) EPS, Q3 2024 earnings at ($0.16) EPS, Q4 2024 earnings at ($0.15) EPS, FY2024 earnings at ($0.65) EPS and FY2025 earnings at ($0.38) EPS.

Mustang Bio Stock Up 4.0 %

Shares of NASDAQ:MBIO traded up $0.01 during midday trading on Monday, reaching $0.31. 97,869 shares of the company traded hands, compared to its average volume of 184,391. Mustang Bio has a 12 month low of $0.22 and a 12 month high of $8.17. The firm’s fifty day moving average price is $0.65 and its two-hundred day moving average price is $1.15. The firm has a market capitalization of $3.24 million, a price-to-earnings ratio of -0.07 and a beta of 1.75.

Mustang Bio (NASDAQ:MBIO) last announced its quarterly earnings results on Monday, March 11th. The company reported ($0.71) earnings per share for the quarter, beating the consensus estimate of ($1.68) by $0.97. Analysts forecast that Mustang Bio will post -1.95 earnings per share for the current year.

Institutional Investors Weigh In On Mustang Bio

A hedge fund recently bought a new stake in Mustang Bio stock. Armistice Capital LLC purchased a new position in Mustang Bio, Inc. (NASDAQ:MBIO) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 435,764 shares of the company’s stock, valued at approximately $588,000. Armistice Capital LLC owned approximately 4.73% of Mustang Bio at the end of the most recent reporting period. 9.95% of the stock is currently 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.