Mustang Bio Inc (MBIO) Expected to Post Earnings of -$0.27 Per Share

Equities analysts expect that Mustang Bio Inc (NASDAQ:MBIO) will post earnings of ($0.27) per share for the current quarter, according to Zacks Investment Research. Zero analysts have made estimates for Mustang Bio’s earnings. Mustang Bio reported earnings of ($0.22) per share in the same quarter last year, which would suggest a negative year over year growth rate of 22.7%. The business is scheduled to issue its next quarterly earnings report on Thursday, April 4th.

On average, analysts expect that Mustang Bio will report full year earnings of ($0.98) per share for the current year. For the next fiscal year, analysts forecast that the company will report earnings of ($1.15) per share. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that follow Mustang Bio.

Mustang Bio (NASDAQ:MBIO) last released its quarterly earnings data on Tuesday, November 13th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.08).

A number of equities research analysts have weighed in on the company. Zacks Investment Research raised Mustang Bio from a “hold” rating to a “buy” rating and set a $7.25 price objective on the stock in a report on Saturday, August 18th. Oppenheimer set a $18.00 price objective on Mustang Bio and gave the company a “buy” rating in a report on Tuesday, October 30th. Finally, ValuEngine raised Mustang Bio from a “sell” rating to a “hold” rating in a report on Tuesday, October 9th.

NASDAQ MBIO traded down $0.10 during trading on Friday, reaching $4.15. 34,500 shares of the company traded hands, compared to its average volume of 76,998. The company has a market capitalization of $115.87 million, a price-to-earnings ratio of -5.55 and a beta of 1.66. Mustang Bio has a 1-year low of $3.70 and a 1-year high of $12.89.

In other Mustang Bio news, Director Lindsay A. Md Rosenwald bought 50,000 shares of Mustang Bio stock in a transaction dated Friday, November 2nd. The shares were acquired at an average cost of $4.41 per share, with a total value of $220,500.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 1.60% of the stock is owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Schwab Charles Investment Management Inc. acquired a new position in shares of Mustang Bio in the 2nd quarter worth approximately $216,000. Spark Investment Management LLC acquired a new position in shares of Mustang Bio in the 2nd quarter worth approximately $217,000. BlackRock Inc. boosted its holdings in shares of Mustang Bio by 904.5% in the 1st quarter. BlackRock Inc. now owns 21,646 shares of the company’s stock worth $237,000 after acquiring an additional 19,491 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Mustang Bio by 252.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 43,557 shares of the company’s stock worth $300,000 after acquiring an additional 31,197 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Mustang Bio by 76.7% in the 1st quarter. Northern Trust Corp now owns 28,364 shares of the company’s stock worth $310,000 after acquiring an additional 12,316 shares in the last quarter. 9.73% of the stock is currently owned by institutional investors and hedge funds.

Mustang Bio Company Profile

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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Earnings History and Estimates for Mustang Bio (NASDAQ:MBIO)

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