Zacks: Brokerages Expect Mustang Bio, Inc. (NASDAQ:MBIO) to Post -$0.18 Earnings Per Share

Wall Street analysts expect that Mustang Bio, Inc. (NASDAQ:MBIO) will report earnings per share of ($0.18) for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Mustang Bio’s earnings. The highest EPS estimate is ($0.15) and the lowest is ($0.20). Mustang Bio posted earnings of ($0.23) per share in the same quarter last year, which suggests a positive year over year growth rate of 21.7%. The business is expected to issue its next earnings results on Friday, November 5th.

According to Zacks, analysts expect that Mustang Bio will report full-year earnings of ($0.73) per share for the current financial year, with EPS estimates ranging from ($0.81) to ($0.66). For the next financial year, analysts forecast that the business will post earnings of ($0.74) per share, with EPS estimates ranging from ($0.89) to ($0.64). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Mustang Bio.

Mustang Bio (NASDAQ:MBIO) last issued its earnings results on Sunday, August 15th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.04.

Several research analysts recently commented on MBIO shares. Zacks Investment Research upgraded shares of Mustang Bio from a “hold” rating to a “buy” rating and set a $3.00 target price on the stock in a report on Thursday, August 19th. BTIG Research restated a “buy” rating and set a $11.00 price objective on shares of Mustang Bio in a report on Monday, June 14th. Finally, HC Wainwright restated a “buy” rating and set a $7.00 price objective on shares of Mustang Bio in a report on Tuesday, August 3rd. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $8.50.

In other news, CEO Manuel Md Litchman purchased 86,206 shares of Mustang Bio stock in a transaction on Friday, July 30th. The shares were purchased at an average cost of $2.91 per share, for a total transaction of $250,859.46. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.10% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Woodward Diversified Capital LLC acquired a new position in Mustang Bio in the second quarter valued at approximately $33,000. Commonwealth Equity Services LLC bought a new stake in Mustang Bio in the second quarter valued at approximately $34,000. Envestnet Asset Management Inc. bought a new stake in Mustang Bio in the first quarter valued at approximately $40,000. Prudential Financial Inc. bought a new stake in Mustang Bio in the second quarter valued at approximately $42,000. Finally, Principal Financial Group Inc. increased its stake in Mustang Bio by 34.9% in the second quarter. Principal Financial Group Inc. now owns 14,866 shares of the company’s stock valued at $49,000 after purchasing an additional 3,850 shares in the last quarter. Institutional investors and hedge funds own 29.57% of the company’s stock.

Shares of MBIO stock traded up $0.01 on Friday, hitting $2.74. The company’s stock had a trading volume of 9,631 shares, compared to its average volume of 2,063,999. Mustang Bio has a fifty-two week low of $2.42 and a fifty-two week high of $5.22. The firm’s fifty day moving average price is $2.88 and its 200-day moving average price is $3.15. The stock has a market capitalization of $250.44 million, a price-to-earnings ratio of -3.03 and a beta of 1.72.

Mustang Bio Company Profile

Mustang Bio, Inc is a clinical-stage biopharmaceutical company that focuses on the development and commercialization of a broad range of proprietary chimeric antigen receptor engineered T cell (CAR T) immunotherapies and gene therapies. It develops CAR T and CRISPR/Cas9-enhanced CAR T therapies across multiple cancers, as well as lentiviral gene therapy for XSCID.

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

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