UPDATE: BTIG Starts Mustang Bio (MBIO) at Buy
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BTIG analyst Justin Zelin initiates coverage on Mustang Bio (NASDAQ: MBIO) with a Buy rating and a price target of $11.00.
The analyst comments "We view Mustang Bio as an attractive value investment in the cell and gene therapy sector, with a robust pipeline of nine programs that aim to address more than 11 indications across hematologic malignancies, solid tumors, and severe rare genetic diseases. We believe MBIO is an undervalued dark horse that can potentially change investor perception through an increased cadence of bringing partnered programs in house under Mustang Bio–filed investigative new drug applications (INDs) and additional clinical data disclosures at major medical meetings."
Shares of Mustang Bio closed at $2.79 yesterday.
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