Mustang Bio (NASDAQ:MBIO) Coverage Initiated by Analysts at HC Wainwright

Share on StockTwits

HC Wainwright assumed coverage on shares of Mustang Bio (NASDAQ:MBIO) in a research note issued to investors on Tuesday morning, BenzingaRatingsTable reports. The brokerage issued a buy rating and a $7.00 target price on the stock.

Other equities analysts have also recently issued reports about the company. ValuEngine upgraded Mustang Bio from a sell rating to a hold rating in a report on Thursday, August 1st. Zacks Investment Research cut Mustang Bio from a buy rating to a hold rating in a research note on Tuesday, July 16th. Finally, Cantor Fitzgerald initiated coverage on Mustang Bio in a research note on Thursday, June 20th. They set an overweight rating and a $7.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Mustang Bio currently has an average rating of Buy and a consensus target price of $9.13.

NASDAQ:MBIO opened at $3.55 on Tuesday. The firm has a market cap of $120.77 million, a P/E ratio of -3.11 and a beta of 2.38. The firm’s 50 day moving average price is $3.29. The company has a debt-to-equity ratio of 0.51, a current ratio of 5.64 and a quick ratio of 5.64. Mustang Bio has a fifty-two week low of $2.18 and a fifty-two week high of $10.20.

A number of institutional investors and hedge funds have recently made changes to their positions in MBIO. BlackRock Inc. boosted its stake in Mustang Bio by 117.8% in the 2nd quarter. BlackRock Inc. now owns 1,734,118 shares of the company’s stock worth $6,381,000 after purchasing an additional 937,794 shares during the period. Renaissance Technologies LLC boosted its position in shares of Mustang Bio by 493.3% during the 2nd quarter. Renaissance Technologies LLC now owns 541,053 shares of the company’s stock valued at $1,991,000 after acquiring an additional 449,853 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in shares of Mustang Bio during the 2nd quarter valued at about $736,000. Acadian Asset Management LLC bought a new stake in shares of Mustang Bio during the 2nd quarter valued at about $364,000. Finally, Northern Trust Corp lifted its holdings in shares of Mustang Bio by 26.8% during the 2nd quarter. Northern Trust Corp now owns 228,178 shares of the company’s stock valued at $840,000 after acquiring an additional 48,252 shares in the last quarter. 6.60% of the stock is owned by institutional investors.

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.

See Also: How much can an individual set aside as a catch-up contribution?

Receive News & Ratings for Mustang Bio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mustang Bio and related companies with MarketBeat.com's FREE daily email newsletter.