Mustang Bio (MBIO) Given a $18.00 Price Target at Oppenheimer

Oppenheimer set a $18.00 price target on Mustang Bio (NASDAQ:MBIO) in a research note issued to investors on Tuesday. The brokerage currently has a buy rating on the stock.

Other equities analysts have also issued research reports about the stock. Zacks Investment Research raised shares of Mustang Bio from a hold rating to a buy rating and set a $7.25 target price on the stock in a report on Saturday, August 18th. ValuEngine raised shares of Mustang Bio from a sell rating to a hold rating in a report on Tuesday, October 9th.

MBIO stock opened at $3.88 on Tuesday. Mustang Bio has a 52 week low of $3.70 and a 52 week high of $12.89. The firm has a market cap of $109.05 million, a P/E ratio of -5.17 and a beta of 0.24.

Mustang Bio (NASDAQ:MBIO) last released its earnings results on Monday, August 13th. The company reported ($0.19) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.25) by $0.06. On average, research analysts forecast that Mustang Bio will post -0.84 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its holdings in shares of Mustang Bio by 904.5% during the 1st quarter. BlackRock Inc. now owns 21,646 shares of the company’s stock valued at $237,000 after purchasing an additional 19,491 shares during the last quarter. Spark Investment Management LLC bought a new position in shares of Mustang Bio during the 2nd quarter valued at $217,000. A.R.T. Advisors LLC bought a new stake in Mustang Bio in the 1st quarter worth $186,000. Northern Trust Corp grew its holdings in 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 during the last quarter. Finally, Schwab Charles Investment Management Inc. bought a new stake in Mustang Bio in the 2nd quarter worth $216,000. 9.52% of the stock is currently owned by institutional investors.

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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