Mustang Bio (MBIO) Receives a Buy from Oppenheimer


Oppenheimer analyst Mark Breidenbach maintained a Buy rating on Mustang Bio (MBIO) today and set a price target of $13.00. The company’s shares closed last Wednesday at $2.91.

According to TipRanks.com, Breidenbach is a 5-star analyst with an average return of 17.9% and a 44.0% success rate. Breidenbach covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Iovance Biotherapeutics, and Arvinas Holding Company.

Mustang Bio has an analyst consensus of Strong Buy, with a price target consensus of $9.67, implying a 233.4% upside from current levels. In a report issued on October 26, H.C. Wainwright also maintained a Buy rating on the stock with a $7.00 price target.

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Based on Mustang Bio’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $14.6 million. In comparison, last year the company had a GAAP net loss of $10.4 million.

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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.

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