Short Interest in Mustang Bio, Inc. (NASDAQ:MBIO) Expands By 48.1%

Mustang Bio, Inc. (NASDAQ:MBIO) was the recipient of a significant increase in short interest during the month of March. As of March 31st, there was short interest totaling 125,433 shares, an increase of 48.1% from the March 15th total of 84,718 shares. Based on an average trading volume of 37,937 shares, the days-to-cover ratio is presently 3.3 days. Currently, 1.7% of the company’s shares are sold short.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Mustang Bio in a research report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Mustang Bio Stock Performance

NASDAQ MBIO traded up $0.04 during mid-day trading on Tuesday, reaching $0.75. 43,033 shares of the stock were exchanged, compared to its average volume of 154,768. Mustang Bio has a 1-year low of $0.53 and a 1-year high of $7.00. The business’s fifty day simple moving average is $0.86 and its 200 day simple moving average is $1.11. The stock has a market capitalization of $5.68 million, a PE ratio of -1.92 and a beta of 2.18.

Mustang Bio (NASDAQ:MBIO) last announced its earnings results on Thursday, March 19th. The company reported ($0.07) earnings per share (EPS) for the quarter. On average, analysts anticipate that Mustang Bio will post -35 EPS for the current year.

Hedge Funds Weigh In On Mustang Bio

An institutional investor recently raised its position in Mustang Bio stock. Kestra Advisory Services LLC boosted its stake in shares of Mustang Bio, Inc. (NASDAQ:MBIO) by 68.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 111,042 shares of the company’s stock after purchasing an additional 44,934 shares during the period. Kestra Advisory Services LLC owned approximately 1.52% of Mustang Bio worth $109,000 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 is a clinical?stage biopharmaceutical company focused on the development and commercialization of novel cell and gene therapies for oncology and rare genetic diseases. The company’s primary platform leverages chimeric antigen receptor T?cell (CAR-T) technology to target both hematologic and solid tumor indications. In parallel, Mustang Bio is advancing a portfolio of lentiviral?based gene therapy candidates designed to address inherited metabolic disorders with high unmet medical need.

The company’s oncology pipeline includes programs directed at B-cell malignancies and aggressive brain tumors, with lead CAR-T candidates in clinical trials for glioblastoma multiforme and various B-cell leukemias and lymphomas.