Zacks: Analysts Expect Mustang Bio, Inc. (NASDAQ:MBIO) to Post -$0.20 Earnings Per Share

Brokerages expect that Mustang Bio, Inc. (NASDAQ:MBIO) will post earnings of ($0.20) per share for the current quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Mustang Bio’s earnings, with the highest EPS estimate coming in at ($0.18) and the lowest estimate coming in at ($0.21). Mustang Bio reported earnings of ($0.32) per share during the same quarter last year, which indicates a positive year over year growth rate of 37.5%. The company is scheduled to issue its next quarterly earnings report on Wednesday, March 23rd.

According to Zacks, analysts expect that Mustang Bio will report full-year earnings of ($0.74) per share for the current financial year, with EPS estimates ranging from ($0.75) to ($0.72). For the next year, analysts expect that the firm will report earnings of ($0.76) per share, with EPS estimates ranging from ($0.83) to ($0.71). Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that cover Mustang Bio.

Mustang Bio (NASDAQ:MBIO) last issued its quarterly earnings results on Friday, November 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.18) by ($0.01).

A number of research firms have commented on MBIO. Zacks Investment Research lowered Mustang Bio from a “buy” rating to a “hold” rating in a research report on Wednesday, October 20th. HC Wainwright reaffirmed a “buy” rating and set a $7.00 price target on shares of Mustang Bio in a research report on Tuesday, August 3rd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Mustang Bio in a research report on Monday, November 15th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $8.50.

In other news, CEO Manuel Md Litchman bought 65,000 shares of Mustang Bio stock in a transaction on Wednesday, October 27th. The shares were purchased at an average price of $2.24 per share, for a total transaction of $145,600.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.10% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. grew its stake in shares of Mustang Bio by 34.9% in the 2nd quarter. Principal Financial Group Inc. now owns 14,866 shares of the company’s stock worth $49,000 after buying an additional 3,850 shares during the last quarter. ProShare Advisors LLC boosted its stake in Mustang Bio by 34.2% during the 2nd quarter. ProShare Advisors LLC now owns 18,055 shares of the company’s stock valued at $60,000 after purchasing an additional 4,600 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Mustang Bio by 20.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,410 shares of the company’s stock valued at $101,000 after purchasing an additional 5,082 shares during the last quarter. Los Angeles Capital Management LLC boosted its stake in Mustang Bio by 5.3% during the 3rd quarter. Los Angeles Capital Management LLC now owns 109,726 shares of the company’s stock valued at $295,000 after purchasing an additional 5,480 shares during the last quarter. Finally, National Asset Management Inc. boosted its stake in Mustang Bio by 2.7% during the 2nd quarter. National Asset Management Inc. now owns 236,175 shares of the company’s stock valued at $785,000 after purchasing an additional 6,150 shares during the last quarter. Institutional investors own 28.28% of the company’s stock.

Shares of NASDAQ MBIO traded up $0.03 during midday trading on Thursday, reaching $2.18. The company had a trading volume of 1,069,773 shares, compared to its average volume of 1,828,715. Mustang Bio has a one year low of $2.06 and a one year high of $5.22. The firm’s fifty day moving average price is $2.41 and its 200-day moving average price is $2.85. The stock has a market cap of $203.67 million, a PE ratio of -2.53 and a beta of 1.60.

About Mustang Bio

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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