Short Interest in Mustang Bio, Inc. (NASDAQ:MBIO) Increases By 176.0%

Mustang Bio, Inc. (NASDAQ:MBIO) was the target of a large growth in short interest in 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 company’s shares are short sold. Based on an average trading volume of 553,998 shares, the short-interest ratio is presently 0.3 days.

Mustang Bio Stock Up 4.9%

Shares of MBIO traded up $0.03 during mid-day trading on Friday, reaching $0.70. The company had a trading volume of 44,430 shares, compared to its average volume of 328,348. The stock has a 50 day moving average of $0.70 and a two-hundred day moving average of $0.86. Mustang Bio has a 52-week low of $0.53 and a 52-week high of $7.00. The stock has a market capitalization of $5.33 million, a P/E ratio of -1.47 and a beta of 2.08.

Mustang Bio (NASDAQ:MBIO) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($140.00) by $139.86.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mustang Bio in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has an average rating of “Sell”.

Hedge Funds Weigh In On Mustang Bio

A hedge fund recently bought a new stake in Mustang Bio stock. DRW Securities LLC acquired a new position in shares of Mustang Bio, Inc. (NASDAQ:MBIO) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 73,936 shares of the company’s stock, valued at approximately $73,000. DRW Securities LLC owned about 1.01% of Mustang Bio as of its most recent filing with the Securities and Exchange Commission (SEC). 9.95% of the stock is owned by hedge funds and other institutional investors.

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.