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

Equities research analysts expect Mustang Bio, Inc. (NASDAQ:MBIO) to post ($0.20) earnings per share for the current quarter, Zacks reports. Zero analysts have made estimates for Mustang Bio’s earnings, with the lowest EPS estimate coming in at ($0.21) and the highest estimate coming in at ($0.18). Mustang Bio reported earnings per share of ($0.32) in the same quarter last year, which would suggest a positive year over year growth rate of 37.5%. The company is scheduled to report 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 forecast that the firm will post earnings of ($0.76) per share, with EPS estimates ranging from ($0.83) to ($0.71). Zacks Investment Research’s EPS averages 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 Zacks’ consensus estimate of ($0.18) by ($0.01).

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

NASDAQ:MBIO traded up $0.03 during trading hours on Thursday, reaching $2.18. 1,069,773 shares of the company were exchanged, compared to its average volume of 1,828,715. The company has a market capitalization of $203.67 million, a P/E ratio of -2.53 and a beta of 1.60. Mustang Bio has a 1-year low of $2.06 and a 1-year high of $5.22. The business has a 50 day moving average of $2.41 and a 200 day moving average of $2.85.

In other Mustang Bio 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, with a total value of $145,600.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 2.10% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in MBIO. Principal Financial Group Inc. raised its position in Mustang Bio by 34.9% during the 2nd quarter. Principal Financial Group Inc. now owns 14,866 shares of the company’s stock worth $49,000 after purchasing an additional 3,850 shares during the last quarter. ProShare Advisors LLC raised its position in Mustang Bio by 34.2% during the 2nd quarter. ProShare Advisors LLC now owns 18,055 shares of the company’s stock worth $60,000 after purchasing an additional 4,600 shares during the last quarter. The Manufacturers Life Insurance Company raised its position 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 worth $101,000 after purchasing an additional 5,082 shares during the last quarter. Los Angeles Capital Management LLC raised its position 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 worth $295,000 after purchasing an additional 5,480 shares during the last quarter. Finally, National Asset Management Inc. raised its position in Mustang Bio by 2.7% during the 2nd quarter. National Asset Management Inc. now owns 236,175 shares of the company’s stock worth $785,000 after purchasing an additional 6,150 shares during the last quarter. Institutional investors own 28.28% of the company’s stock.

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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