H.C. Wainwright analyst Joseph Pantginis reiterated a Buy rating on Mustang Bio (MBIO) today and set a price target of $7.00. The company’s shares closed last Wednesday at $3.07.
According to TipRanks.com, Pantginis is a top 100 analyst with an average return of 42.4% and a 61.6% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Catabasis Pharmaceuticals, and Lineage Cell Therapeutics.
Currently, the analyst consensus on Mustang Bio is a Strong Buy with an average price target of $11.00, representing a 230.3% upside. In a report issued on March 17, Oppenheimer also assigned a Buy rating to the stock with a $13.00 price target.
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Based on Mustang Bio’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $12.95 million. In comparison, last year the company had a GAAP net loss of $10.17 million.
Based on the recent corporate insider activity of 18 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MBIO in relation to earlier this year.
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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. The firm’s products include MB-101 IL13Ra2-specific CAR, MB-102 CD123 CAR, MB-103 HER2 CAR, MB-104 CS1 CAR, MB-105 PSCA CAR, MB-106 CD20 CAR, MB-107 XSCID Gene Therapy and Oncolytic Virus (C134). The company was founded on March 13, 2015 and is headquartered in New York, NY.
