Mustang Bio (NASDAQ:MBIO) Shares Down 12.7% – Should You Sell?

Mustang Bio, Inc. (NASDAQ:MBIO) shares dropped 12.7% during trading on Monday . The stock traded as low as $0.22 and last traded at $0.22. Approximately 5,256,523 shares were traded during trading, a decline of 91% from the average daily volume of 59,629,988 shares. The stock had previously closed at $0.26.

Mustang Bio Trading Down 12.7 %

The company has a fifty day moving average of $0.20 and a 200-day moving average of $0.27. The stock has a market cap of $6.00 million, a PE ratio of -0.08 and a beta of 1.77.

Mustang Bio’s stock is set to reverse split on Thursday, January 16th. The 1-50 reverse split was announced on Tuesday, January 14th. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, January 15th.

Mustang Bio (NASDAQ:MBIO) last posted its quarterly earnings results on Friday, November 8th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.09. As a group, research analysts anticipate that Mustang Bio, Inc. will post -0.7 earnings per share for the current fiscal year.

Institutional Trading of Mustang Bio

A hedge fund recently bought a new stake in Mustang Bio stock. Thoroughbred Financial Services LLC bought a new stake in Mustang Bio, Inc. (NASDAQ:MBIO) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 53,000 shares of the company’s stock, valued at approximately $25,000. Thoroughbred Financial Services LLC owned about 0.42% of Mustang Bio at the end of the most recent reporting period. 9.95% of the stock is owned by 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.