An interesting stock that came up in some of our conversations today is Mustang Bio, Inc. (NASDAQ:MBIO). At current price of $4.08, the shares have already added 0.12 points (3.03% higher) from its previous close of $3.96. Should you buy or avoid them? The stock sets an active trading volume day with a reported 330975 contracts so far this session. MBIO shares had a relatively better volume day versus average trading capacity of 1.07 million shares, but with a 32.02 million float and a -2.94% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for MBIO stock indicates that the average analyst price target is $19.5 per share. This means the stock has a potential increase of 377.94% from where the MBIO share price has been trading recently which is between $3.92 and $4.16. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $18.
The shorts are climbing into Mustang Bio, Inc. (MBIO) stock. The latest set of short interest data was released on 30 April 2019, and the numbers show a rise in short interest in MBIO shares. While short interest still represents only 1.21% of MBIO’s float, the number of shares shorted have risen by 826390. The number of shares shorted advanced to 1214096 shares, up from 387706 shares during the preceding fortnight. With average daily trading volumes at 5599540 shares, days to cover decreased to about 8.438113 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Mustang Bio and Nationwide Childrens Hospital Receive Orphan Drug Designation for MB-108 (Oncolytic Virus C134) for the Treatment of Malignant Glioma” and dated May 16, 2019.
During the recent trading session for Mustang Bio, Inc. (NASDAQ:MBIO), the company witnessed their stock drop by $-0.24 over a week and tumble down $-1.56 from the price 20 days ago. When compared to their established 52-week high of $10.2, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 04/18/19. The recent low of $2.18 stood for a -60% since 12/27/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Mustang Bio, Inc., the two-week RSI stands at 48.11. This figure suggests that MBIO stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current MBIO readings is similarly very revealing as it has a stochastic reading of 21.34% at this stage. This figure means that MBIO share price today is being overbought.
Technical chart claims that Mustang Bio, Inc. (MBIO) would settle between $4.11/share to $4.25/share level. However, if the stock price goes below the $3.87 mark, then the market for Mustang Bio, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $3.77 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.09. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Oppenheimer, assumed coverage of MBIO assigning Outperform rating, according to their opinion released on December 21.
MBIO equity has an average rating of 1, with the figure leaning towards a bullish end. 2 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 2 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 2 analysts rated Mustang Bio, Inc. (NASDAQ:MBIO) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.