Mustang Bio (NASDAQ:MBIO) Trading Down 2.3% – What’s Next?

Mustang Bio, Inc. (NASDAQ:MBIO) fell 2.3% during mid-day trading on Monday . The company traded as low as $0.16 and last traded at $0.16. 717,797 shares changed hands during trading, a decline of 91% from the average session volume of 8,256,264 shares. The stock had previously closed at $0.17.

Mustang Bio Stock Up 1.9 %

The stock has a market cap of $7.98 million, a price-to-earnings ratio of -0.11 and a beta of 1.81. The stock’s fifty day moving average is $0.22 and its 200-day moving average is $0.30.

Mustang Bio (NASDAQ:MBIO) last announced its quarterly earnings results on Friday, November 8th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.09. As a group, equities research analysts predict that Mustang Bio, Inc. will post -0.7 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Mustang Bio

An institutional investor recently bought a new position in Mustang Bio stock. Koss Olinger Consulting LLC bought a new position in Mustang Bio, Inc. (NASDAQ:MBIO) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 98,366 shares of the company’s stock, valued at approximately $47,000. Koss Olinger Consulting LLC owned 0.79% of Mustang Bio at the end of the most recent quarter. 9.95% of the stock is currently owned by hedge funds and other 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.