Mustang Bio, Inc. (NASDAQ:MBIO) Short Interest Update

Mustang Bio, Inc. (NASDAQ:MBIO) saw a large decline in short interest in July. As of July 15th, there was short interest totaling 60,867 shares, a decline of 40.6% from the June 30th total of 102,440 shares. Approximately 0.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 41,980 shares, the days-to-cover ratio is presently 1.4 days.

Institutional Trading of Mustang Bio

A hedge fund recently bought a new stake in Mustang Bio stock. DRW Securities LLC bought a new position in shares of Mustang Bio, Inc. (NASDAQ:MBIO) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 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 & Exchange Commission. 9.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Mustang Bio in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Mustang Bio Trading Down 4.0%

Shares of NASDAQ MBIO opened at $0.57 on Friday. The company has a market cap of $4.32 million, a price-to-earnings ratio of -1.19 and a beta of 2.05. Mustang Bio has a 12 month low of $0.53 and a 12 month high of $1.88. The stock has a 50-day moving average price of $0.67 and a two-hundred day moving average price of $0.78.

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

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.