Mustang Bio, Inc. (NASDAQ:MBIO) Sees Large Increase in Short Interest

Mustang Bio, Inc. (NASDAQ:MBIO) was the recipient of a significant growth in short interest during the month of June. As of June 15th, there was short interest totaling 150,627 shares, a growth of 176.0% from the May 31st total of 54,570 shares. Approximately 2.1% of the shares of the stock are sold short. Based on an average trading volume of 553,998 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Inflows and Outflows

A hedge fund recently raised its position in Mustang Bio stock. Kestra Advisory Services LLC raised its holdings in Mustang Bio, Inc. (NASDAQ:MBIO) by 58.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 176,042 shares of the company’s stock after buying an additional 65,000 shares during the quarter. Kestra Advisory Services LLC owned 2.32% of Mustang Bio worth $128,000 as of its most recent SEC filing. 9.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Mustang Bio in a research note on Tuesday, April 21st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Mustang Bio Price Performance

NASDAQ MBIO traded down $0.00 on Monday, reaching $0.70. The company had a trading volume of 34,419 shares, compared to its average volume of 328,505. The firm has a market cap of $5.30 million, a price-to-earnings ratio of -1.46 and a beta of 2.08. Mustang Bio has a fifty-two week low of $0.53 and a fifty-two week high of $7.00. The business has a 50 day moving average of $0.70 and a two-hundred day moving average of $0.86.

Mustang Bio (NASDAQ:MBIO) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($140.00) by $139.86.

Mustang Bio Company Profile

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.