Mustang Bio (MBIO) PT Set at $18.00 by Oppenheimer

Mustang Bio (NASDAQ:MBIO) has been given a $18.00 target price by stock analysts at Oppenheimer in a research note issued on Tuesday. The firm presently has a “buy” rating on the stock. Oppenheimer’s price target suggests a potential upside of 363.92% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of Mustang Bio from a “hold” rating to a “buy” rating and set a $7.25 target price on the stock in a report on Saturday, August 18th. ValuEngine upgraded shares of Mustang Bio from a “sell” rating to a “hold” rating in a report on Tuesday, October 9th.

Shares of Mustang Bio stock traded down $0.10 during trading on Tuesday, hitting $3.88. The company’s stock had a trading volume of 23,101 shares, compared to its average volume of 79,275. Mustang Bio has a 52 week low of $3.70 and a 52 week high of $12.89. The stock has a market cap of $109.05 million, a price-to-earnings ratio of -5.17 and a beta of 0.26.

Mustang Bio (NASDAQ:MBIO) last released its earnings results on Monday, August 13th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.06. As a group, equities research analysts anticipate that Mustang Bio will post -0.84 EPS for the current year.

Hedge funds have recently added to or reduced their stakes in the stock. A.R.T. Advisors LLC acquired a new position in Mustang Bio in the first quarter valued at $186,000. Schwab Charles Investment Management Inc. acquired a new position in Mustang Bio in the second quarter valued at $216,000. Spark Investment Management LLC acquired a new position in Mustang Bio in the second quarter valued at $217,000. BlackRock Inc. lifted its holdings in Mustang Bio by 904.5% in the first quarter. BlackRock Inc. now owns 21,646 shares of the company’s stock valued at $237,000 after buying an additional 19,491 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in Mustang Bio by 252.4% in the second quarter. Bank of New York Mellon Corp now owns 43,557 shares of the company’s stock valued at $300,000 after buying an additional 31,197 shares during the period. Institutional investors and hedge funds own 9.52% of the company’s stock.

About Mustang Bio

Mustang Bio, Inc, a clinical-stage biopharmaceutical company, focuses on the acquisition, development, and commercialization of novel cancer immunotherapy products based on the chimeric antigen receptor engineered T (CAR T) cell technology. The company's CAR T product candidates include MB-101, a IL13Ra2 CAR T cell program which is in Phase I clinical study for glioblastoma; and MB-102, a CD123 CAR T cell program to treat acute myeloid leukemia and blastic plasmacytoid dendritic cell neoplasm; and MB-106, a CD20 CAR T cell program that is in Phase I clinical study for the treatment of B cell non-Hodgkin lymphoma.

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