Mustang Bio Inc. (NASDAQ: MBIO) stock jumped 14.56% on Friday to $0.69 against a previous-day closing price of $0.60. With 1.44 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.04 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $0.7000 whereas the lowest price it dropped to was $0.6050. The 52-week range on MBIO shows that it touched its highest point at $3.09 and its lowest point at $0.51 during that stretch. It currently has a 1-year price target of $7.00. Beta for the stock currently stands at 1.69.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of MBIO was up-trending over the past week, with a rise of 4.15%, but this was up by 19.54% over a month. Three-month performance dropped to -1.51% while six-month performance fell -42.07%. The stock lost -74.75% in the past year, while it has lost -58.47% so far this year. A look at the trailing 12-month EPS for MBIO yields -0.77 with Next year EPS estimates of -0.93. For the next quarter, that number is -0.21. This implies an EPS growth rate of 33.80% for this year and -15.40% for next year.
Float and Shares Shorts:
At present, 97.92 million MBIO shares are outstanding with a float of 80.71 million shares on hand for trading. On Jul 14, 2022, short shares totaled 0.9 million, which was 0.87% higher than short shares on Jun 14, 2022. In addition to Mr. Michael S. Weiss Esq. as the firm’s Exec. Chairman, Dr. Manuel Litchman M.D. serves as its Pres, CEO & Director.
Through their ownership of 25.40% of MBIO’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 15.08% of MBIO, in contrast to 11.66% held by mutual funds. Shares owned by individuals account for 10.07%. As the largest shareholder in MBIO with 5.09% of the stake, BlackRock Fund Advisors holds 5,202,979 shares worth 5,202,979. A second-largest stockholder of MBIO, The Vanguard Group, Inc., holds 2,916,017 shares, controlling over 2.85% of the firm’s shares. Renaissance Technologies LLC is the third largest shareholder in MBIO, holding 2,449,100 shares or 2.40% stake. With a 1.67% stake in MBIO, the JPMorgan Funds – Thematics – Gene is the largest stakeholder. A total of 1,705,894 shares are owned by the mutual fund manager. The TIAA-CREF Quant Small Cap Equity, which owns about 1.18% of MBIO stock, is the second-largest Mutual Fund holder. It holds 1,207,930 shares valued at 0.71 million. Vanguard Total Stock Market Index holds 1.06% of the stake in MBIO, owning 1,080,162 shares worth 0.63 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for MBIO since 5 analysts follow the stock currently. There are 5 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With MBIO analysts setting a high price target of $8.00 and a low target of $4.00, the average target price over the next 12 months is $7.00. Based on these targets, MBIO could surge 1059.42% to reach the target high and rise by 479.71% to reach the target low. Reaching the average price target will result in a growth of 914.49% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. MBIO will report FY 2022 earnings on 03/20/2023. Analysts have provided yearly estimates in a range of -$0.80 being high and -$0.88 being low. For MBIO, this leads to a yearly average estimate of -$0.84. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Mustang Bio Inc. surprised analysts by -$0.02 when it reported -$0.20 EPS against a consensus estimate of -$0.18. The surprise factor in the prior quarter was -$0.03. Based on analyst estimates, the high estimate for the next quarter is -$0.20 and the low estimate is -$0.21. The average estimate for the next quarter is thus -$0.21.
Summary of Insider Activity:
Insiders traded MBIO stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 4 while that of sell transactions has risen to 2 over the past year. The total number of shares bought during that period was 91,416 while 8,824 shares were sold.