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

Shares of Mustang Bio, Inc. (NASDAQ:MBIO) traded down 2.3% on Monday . The company traded as low as $0.16 and last traded at $0.16. 717,797 shares changed hands during mid-day 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 company has a market capitalization of $7.98 million, a P/E ratio of -0.11 and a beta of 1.81. The firm has a 50-day moving average price of $0.22 and a two-hundred day moving average price of $0.30.

Mustang Bio (NASDAQ:MBIO) last issued its earnings results on Friday, November 8th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.09. On average, analysts predict that Mustang Bio, Inc. will post -0.7 EPS for the current fiscal year.

Hedge Funds Weigh In On Mustang Bio

A hedge fund recently bought a new stake in Mustang Bio stock. Thoroughbred Financial Services LLC bought a new position in shares of Mustang Bio, Inc. (NASDAQ:MBIO) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 53,000 shares of the company’s stock, valued at approximately $25,000. Thoroughbred Financial Services LLC owned about 0.42% of Mustang Bio as of its most recent SEC filing. Institutional investors and hedge funds own 9.95% of the company’s stock.

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.