Why Should You Put Mustang Bio Inc. (NASDAQ: MBIO) On Your Portfolio?


    Renaissance Technologies LLC recently announced the acquisition of new stake in Mustang Bio Inc. (NASDAQ:MBIO). The institutional investor has increased its shareholding in the Healthcare company by 7.71% to 0.83 million shares with purchase of 59100.0 shares. This fresh investment now brings its stake to 1.56% valued currently at $2.63 million. In addition, Geode Capital Management LLC raised its holdings by 22354.0 to 0.41 million shares. And Ikarian Capital LLC has lifted its position by 10.28% or 33240.0 shares – to 0.36 million shares.

    With over 0.73 million Mustang Bio Inc. (MBIO) shares trading Tuesday and a closing price of $3.36 on the day, the dollar volume was approximately $2.45 million. The shares have shown a positive weekly performance of 12.99% and its price on 07/21/20 lost nearly -3.45%. Currently, there are 41.97M common shares owned by the public and among those 31.49M shares have been available to trade.

    An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 3 analysts who have offered their price forecasts for MBIO have a consensus price objective of $9.00. The analysts have set the share’s price value over the next 12 months at a high of $13.00 and a low of $7.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Mustang Bio Inc. stock is 1.70 for the next 12 months. But an upside of 74.15% will see the stock hit the forecast high price target while mean target price for the stock is $7.00.

    Insiders at the company have transacted a total of 11 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 11 of these insider trades were purchases, accounting for 552,868 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.

    The top 3 mutual fund holders in Mustang Bio Inc. are Vanguard Total Stock Market Index, iShares Russell 2000 ETF, and Vanguard Extended Market Index Fu. Vanguard Total Stock Market Index owns 0.96 million shares of the company’s stock, all valued at over $3.05 million. The company bought an additional 0.15 million shares recently to bring their total holdings to about 1.81% of the shares outstanding. iShares Russell 2000 ETF sold 13932.0 shares to see its total holdings shrink to 0.55 million shares valued at over $1.75 million and representing 1.04% of the shares outstanding. Vanguard Extended Market Index Fu now owns shares totaling to 0.77% of the shares outstanding.

    Shares of Mustang Bio Inc. (NASDAQ: MBIO) opened at $3.65, up $0.17 from a prior closing price of $3.48. However, the script later closed the day at $3.36, down -3.45%. The company’s stock has a 5-day price change of 12.99% and 22.11% over the past three months. MBIO shares are trading -14.71% year to date (YTD), with the 12-month market performance up to 11.54% higher. It has a 12-month low price of $1.78 and touched a high of $4.85 over the same period. Currently, 0.73 million shares have been traded, compared to an average intraday trading volume of 884.36K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 4.98%, 0.79%, and 5.11% respectively.

    Institutional ownership of Mustang Bio Inc. (NASDAQ: MBIO) shares accounts for 17.40% of the company’s 41.97M shares outstanding. Mutual fund holders own 7.06%, while other institutional holders and individual stakeholders account for 9.91% and 20.95% respectively.

    It has a market capitalization of $167.01M. The earnings-per-share (ttm) stands at -$1.23. Price movements for the stock have been influenced by the stock’s volatility, which stands at 8.62% over the week and 6.20% over the month.

    Analysts forecast that Mustang Bio Inc. (MBIO) will achieve an EPS of -$0.27 for the current quarter, -$0.27 for the next quarter and -$1.07 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.28 while analysts give the company a high EPS estimate of -$0.24. Comparatively, EPS for the current quarter was -$0.29 a year ago. Earnings per share for the fiscal year are expected to decrease by -13.10%, and -2.90% over the next financial year.

    If you are looking to buy this stock, then you may note that the average analyst recommendation by 3 brokerage firm advisors rate Mustang Bio Inc. (MBIO) as a “Strong Buy” at a consensus score of 1.70. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 0 of the 3 advise that investors “hold,” and 0 rated it as a “Sell.”

    Looking at the support for the MBIO, a number of firms have released research notes about the stock. Cantor Fitzgerald stated their Overweight rating for the stock in a research note on November 20, 2019, with the firm’s price target at $7. H.C. Wainwright coverage for the Mustang Bio Inc. (MBIO) stock in a research note released on August 13, 2019 offered a Buy rating with a price target of $7. Cantor Fitzgerald was of a view on June 21, 2019 that the stock is Overweight, while Oppenheimer gave the stock Outperform rating on December 21, 2017, issuing a price target of $18.


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