Zacks: Brokerages Anticipate Mustang Bio Inc (NASDAQ:MBIO) Will Post Earnings of -$0.25 Per Share

Analysts expect Mustang Bio Inc (NASDAQ:MBIO) to post earnings of ($0.25) per share for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Mustang Bio’s earnings. Mustang Bio also reported earnings of ($0.25) per share during the same quarter last year. The firm is expected to issue its next quarterly earnings report on Tuesday, November 10th.

According to Zacks, analysts expect that Mustang Bio will report full year earnings of ($1.09) per share for the current financial year, with EPS estimates ranging from ($1.11) to ($1.06). For the next fiscal year, analysts anticipate that the company will report earnings of ($1.00) per share, with EPS estimates ranging from ($1.09) to ($0.90). Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that cover Mustang Bio.

Mustang Bio (NASDAQ:MBIO) last issued its quarterly earnings data on Monday, August 10th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.27) by ($0.05).

MBIO has been the topic of several recent analyst reports. HC Wainwright reissued a “buy” rating and issued a $7.00 target price on shares of Mustang Bio in a report on Tuesday, August 11th. Oppenheimer restated a “buy” rating on shares of Mustang Bio in a research report on Tuesday, August 11th. Finally, Zacks Investment Research cut Mustang Bio from a “hold” rating to a “sell” rating in a research report on Friday, August 14th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $7.56.

Shares of NASDAQ MBIO traded down $0.06 during mid-day trading on Wednesday, reaching $3.72. The company had a trading volume of 2,652,595 shares, compared to its average volume of 689,688. The firm has a market cap of $210.46 million, a price-to-earnings ratio of -2.93 and a beta of 1.62. The business’s 50-day simple moving average is $3.28 and its 200 day simple moving average is $3.09. Mustang Bio has a one year low of $1.78 and a one year high of $4.85. The company has a debt-to-equity ratio of 0.16, a quick ratio of 5.85 and a current ratio of 5.85.

Several large investors have recently added to or reduced their stakes in the company. Schonfeld Strategic Advisors LLC bought a new position in Mustang Bio in the 2nd quarter valued at approximately $1,236,000. Bridgeway Capital Management Inc. increased its position in Mustang Bio by 11.5% in the 2nd quarter. Bridgeway Capital Management Inc. now owns 193,400 shares of the company’s stock valued at $615,000 after acquiring an additional 20,000 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Mustang Bio by 8.3% during the second quarter. Charles Schwab Investment Management Inc. now owns 76,291 shares of the company’s stock valued at $243,000 after acquiring an additional 5,877 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new position in shares of Mustang Bio during the second quarter valued at $520,000. Finally, Highland Capital Management Fund Advisors L.P. lifted its holdings in shares of Mustang Bio by 12.5% during the second quarter. Highland Capital Management Fund Advisors L.P. now owns 135,000 shares of the company’s stock worth $429,000 after purchasing an additional 15,000 shares during the period. Institutional investors own 25.54% of the company’s stock.

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.

Read More: What is an inverted yield curve?

Get a free copy of the Zacks research report on Mustang Bio (MBIO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Mustang Bio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mustang Bio and related companies with MarketBeat.com's FREE daily email newsletter.