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

Mustang Bio, Inc. (NASDAQ:MBIO) was the recipient of a large 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. Currently, 1.7% of the company’s shares are sold short. Based on an average daily volume of 37,937 shares, the days-to-cover ratio is presently 3.3 days.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mustang Bio in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently 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 bought a new position in Mustang Bio, Inc. (NASDAQ:MBIO) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 73,936 shares of the company’s stock, valued at approximately $73,000. DRW Securities LLC owned 1.01% of Mustang Bio at the end of the most recent quarter. Hedge funds and other institutional investors own 9.95% of the company’s stock.

Mustang Bio Stock Performance

Mustang Bio stock traded up $0.01 during mid-day trading on Wednesday, hitting $0.76. The company’s stock had a trading volume of 35,056 shares, compared to its average volume of 35,080. The company has a 50 day moving average of $0.86 and a 200-day moving average of $1.11. The stock has a market cap of $5.77 million, a PE ratio of -1.95 and a beta of 2.18. Mustang Bio has a one year low of $0.53 and a one year high of $7.00.

Mustang Bio (NASDAQ:MBIO) last announced its quarterly earnings data on Thursday, March 19th. The company reported ($0.07) EPS for the quarter. On average, equities research analysts forecast that Mustang Bio will post -35 EPS for the current fiscal year.

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.