Mustang Bio, Inc. to Post FY2023 Earnings of ($5.92) Per Share, Cantor Fitzgerald Forecasts (NASDAQ:MBIO)

Mustang Bio, Inc. (NASDAQ:MBIO – Get Rating) – Stock analysts at Cantor Fitzgerald increased their FY2023 EPS estimates for Mustang Bio in a research report issued on Monday, May 22nd. Cantor Fitzgerald analyst K. Kluska now anticipates that the company will post earnings of ($5.92) per share for the year, up from their prior estimate of ($6.41). The consensus estimate for Mustang Bio’s current full-year earnings is ($7.80) per share.

Separately, HC Wainwright restated a “buy” rating on shares of Mustang Bio in a research note on Thursday, March 30th.

Mustang Bio Stock Performance

Shares of MBIO stock opened at $4.88 on Wednesday. The company has a current ratio of 4.83, a quick ratio of 4.83 and a debt-to-equity ratio of 0.93. The firm has a fifty day moving average price of $4.43 and a 200 day moving average price of $6.65. The company has a market cap of $39.83 million, a P/E ratio of -0.47 and a beta of 1.86. Mustang Bio has a 12 month low of $2.82 and a 12 month high of $14.10.

Hedge Funds Weigh In On Mustang Bio

Large investors have recently bought and sold shares of the stock. Arete Wealth Advisors LLC purchased a new position in Mustang Bio in the first quarter valued at about $5,696,000,000. Envestnet Asset Management Inc. increased its holdings in Mustang Bio by 42.9% in the first quarter. Envestnet Asset Management Inc. now owns 60,467 shares of the company’s stock valued at $61,000 after buying an additional 18,156 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in Mustang Bio by 471.1% in the second quarter. BNP Paribas Arbitrage SA now owns 53,718 shares of the company’s stock valued at $31,000 after buying an additional 44,312 shares in the last quarter. Cetera Advisor Networks LLC purchased a new position in Mustang Bio in the second quarter valued at about $31,000. Finally, Oppenheimer & Co. Inc. increased its holdings in Mustang Bio by 168.9% in the third quarter. Oppenheimer & Co. Inc. now owns 120,980 shares of the company’s stock valued at $57,000 after buying an additional 75,996 shares in the last quarter. Institutional investors and hedge funds own 13.66% of the company’s stock.

About Mustang Bio

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Mustang Bio, Inc is a clinical-stage biopharmaceutical company, which engages in the translation of medical breakthroughs in cell and gene therapies into potential cures for hematologic cancers, solid tumors, and rare genetic diseases. Its pipeline includes CAR T therapies for hematologic malignancies, CAR T therapies for solid tumors, and gene therapies for rare genetic disorders.