Mustang Bio (NASDAQ:MBIO) Stock Price Down 2.3% – Should You Sell?

Shares of Mustang Bio, Inc. (NASDAQ:MBIO) fell 2.3% on Monday . The company traded as low as $0.16 and last traded at $0.16. 717,797 shares traded hands during trading, a decline of 91% from the average session volume of 8,256,264 shares. The stock had previously closed at $0.17.

Mustang Bio Trading Down 2.3 %

The business has a 50 day moving average of $0.22 and a two-hundred day moving average of $0.30. The firm has a market cap of $7.84 million, a P/E ratio of -0.11 and a beta of 1.81.

Mustang Bio (NASDAQ:MBIO) last released its quarterly earnings data on Friday, November 8th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.09. On average, sell-side analysts predict that Mustang Bio, Inc. will post -0.7 EPS for the current year.

Institutional Investors Weigh In On Mustang Bio

A hedge fund recently bought a new stake in Mustang Bio stock. Thoroughbred Financial Services LLC purchased a new stake in Mustang Bio, Inc. (NASDAQ:MBIO) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 53,000 shares of the company’s stock, valued at approximately $25,000. Thoroughbred Financial Services LLC owned approximately 0.42% of Mustang Bio at the end of the most recent quarter. 9.95% of the stock is currently owned by hedge funds and other 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.