Zacks: Analysts Anticipate Mustang Bio Inc (NASDAQ:MBIO) to Post -$0.27 Earnings Per Share

Analysts expect that Mustang Bio Inc (NASDAQ:MBIO) will announce earnings of ($0.27) per share for the current quarter, according to Zacks. Zero analysts have provided estimates for Mustang Bio’s earnings. The highest EPS estimate is ($0.26) and the lowest is ($0.28). Mustang Bio posted earnings per share of ($0.28) during the same quarter last year, which would indicate a positive year over year growth rate of 3.6%. The firm is scheduled to report its next earnings results on Tuesday, November 12th.

According to Zacks, analysts expect that Mustang Bio will report full-year earnings of ($1.14) per share for the current financial year, with EPS estimates ranging from ($1.18) to ($1.11). For the next fiscal year, analysts expect that the business will post earnings of ($1.11) per share, with EPS estimates ranging from ($1.33) to ($0.93). Zacks’ EPS averages are an 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 Friday, August 9th. The company reported ($0.29) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.24) by ($0.05).



MBIO has been the subject of several research reports. Zacks Investment Research downgraded shares of Mustang Bio from a “hold” rating to a “sell” rating in a research report on Tuesday, August 20th. HC Wainwright set a $7.00 price objective on shares of Mustang Bio and gave the stock a “buy” rating in a research report on Friday, August 23rd. ValuEngine raised shares of Mustang Bio from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Finally, Cantor Fitzgerald initiated coverage on shares of Mustang Bio in a research report on Thursday, June 20th. They set an “overweight” rating and a $7.00 price objective for the company. One analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Mustang Bio currently has an average rating of “Buy” and an average price target of $9.13.

Shares of MBIO stock remained flat at $$2.90 during trading hours on Thursday. 156,807 shares of the stock traded hands, compared to its average volume of 488,609. The company has a 50 day moving average of $3.84 and a 200 day moving average of $3.70. The company has a quick ratio of 13.10, a current ratio of 13.10 and a debt-to-equity ratio of 0.21. Mustang Bio has a 52 week low of $2.18 and a 52 week high of $10.20. The stock has a market cap of $117.31 million, a P/E ratio of -2.54 and a beta of 2.10.

Several hedge funds have recently modified their holdings of MBIO. FNY Investment Advisers LLC bought a new stake in shares of Mustang Bio during the second quarter worth $736,000. National Asset Management Inc. increased its position in shares of Mustang Bio by 31.0% during the second quarter. National Asset Management Inc. now owns 107,874 shares of the company’s stock worth $397,000 after acquiring an additional 25,549 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Mustang Bio by 94.2% during the second quarter. JPMorgan Chase & Co. now owns 7,646 shares of the company’s stock worth $27,000 after acquiring an additional 3,708 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of Mustang Bio during the second quarter worth $364,000. Finally, Charles Schwab Investment Management Inc. grew its position in Mustang Bio by 60.8% in the second quarter. Charles Schwab Investment Management Inc. now owns 70,414 shares of the company’s stock valued at $260,000 after purchasing an additional 26,635 shares in the last quarter. 26.90% of the stock is owned by institutional investors.

About Mustang Bio

Mustang Bio, Inc, a clinical-stage biopharmaceutical company, focuses on translating medical breakthroughs in cell and gene therapies into potential cures for hematologic cancers, solid tumors, and rare genetic diseases. Its pipeline focuses on gene therapy programs for rare genetic disorders, chimeric antigen receptor (CAR) engineered T cell (CAR T) therapies for hematologic malignancies, and CAR T therapies for solid tumors.

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

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