H.C. Wainwright Thinks Mustang Bio’s Stock is Going to Recover

By Ryan Adsit

In a report released today, Joseph Pantginis from H.C. Wainwright reiterated a Buy rating on Mustang Bio (MBIOResearch Report), with a price target of $7.00. The company’s shares closed last Monday at $2.79, close to its 52-week low of $2.42.

According to TipRanks.com, Pantginis is a 5-star analyst with an average return of 26.9% and a 44.5% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Lineage Cell Therapeutics, and Catabasis Pharmaceuticals.

Mustang Bio has an analyst consensus of Strong Buy, with a price target consensus of $10.33.

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Based on Mustang Bio’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $14.96 million. In comparison, last year the company had a GAAP net loss of $11.86 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.