News fir mbio

Here is some news about Mustang Bio:

1. Stock Performance: Mustang Bio's stock (MBIO) has been experiencing significant volatility. In a recent trading session, the stock saw a 58.4% increase, which is well above its daily average trading volume. This follows a period where the stock was down 76.5% year-to-date. This volatility could be indicative of market interest in the company and its potential to recover from a delisting notice.
2. Delisting Notice: The Nasdaq Exchange has issued a delisting notice to Mustang Bio due to the company's shares trading below the required minimum bid price of $1 for an extended period. The company has until November 12, 2024, to regain compliance by maintaining a share price above $1 for 10 consecutive trading days. Alternatively, the company may be eligible for a 180-day extension to adjust its share price.
3. Earnings Reports: Mustang Bio reported earnings per share (EPS) of -46 cents for Q1 2024, which was better than the analyst estimate of -87 cents. However, the company did not report any revenue for the quarter. Analysts have set expectations for a loss of ($0.65) per share for the full year 2024.
4. Analyst Ratings: HC Wainwright has a "Buy" rating on the stock with a price target of $2.00, which is a significant reduction from a previous target of $25.00. This revised target suggests that analysts have adjusted their expectations for the company's performance.
5. Institutional Activity: There has been institutional investment in Mustang Bio, with Armistice Capital LLC buying a new stake in the company's stock. This could be seen as a vote of confidence from institutional investors, although it may also be a speculative play given the company's current challenges.

In conclusion, Mustang Bio is facing significant challenges, including the risk of delisting and a history of negative earnings. However, the recent increase in stock price and institutional investment could indicate that some investors see potential in the company's future. Investors should exercise caution and consider these factors when evaluating the stock.