Mustang Bio (NASDAQ:MBIO) Earns Buy Rating from Analysts at HC Wainwright

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 research analysts have also recently issued reports about the company. Zacks Investment Research cut Mustang Bio from a buy rating to a hold rating in a report on Tuesday, July 16th. ValuEngine raised Mustang Bio from a sell rating to a hold rating in a research note on Thursday, August 1st. Finally, Cantor Fitzgerald started 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. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $9.13.

Shares of MBIO stock opened at $3.69 on Tuesday. Mustang Bio has a 12-month low of $2.18 and a 12-month high of $10.20. The company has a current ratio of 13.10, a quick ratio of 5.64 and a debt-to-equity ratio of 0.21. The stock’s 50-day moving average price is $3.30 and its 200-day moving average price is $3.78. The stock has a market capitalization of $142.92 million, a price-to-earnings ratio of -3.24 and a beta of 2.38.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. increased its stake in Mustang Bio by 117.8% during the second quarter. BlackRock Inc. now owns 1,734,118 shares of the company’s stock worth $6,381,000 after acquiring an additional 937,794 shares during the last quarter. Vanguard Group Inc. increased its stake in Mustang Bio by 293.2% during the second quarter. Vanguard Group Inc. now owns 1,627,415 shares of the company’s stock worth $5,989,000 after acquiring an additional 1,213,550 shares during the last quarter. Renaissance Technologies LLC increased its stake in Mustang Bio by 493.3% during the second quarter. Renaissance Technologies LLC now owns 541,053 shares of the company’s stock worth $1,991,000 after acquiring an additional 449,853 shares during the last quarter. Northern Trust Corp increased its stake in Mustang Bio by 26.8% during the second quarter. Northern Trust Corp now owns 228,178 shares of the company’s stock worth $840,000 after acquiring an additional 48,252 shares during the last quarter. Finally, FNY Investment Advisers LLC bought a new stake in Mustang Bio during the second quarter worth approximately $736,000. 6.60% 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.

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