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

Mustang Bio, Inc. (NASDAQ:MBIO) saw a significant drop in short interest in April. As of April 15th, there was short interest totaling 101,076 shares, a drop of 19.4% from the March 31st total of 125,433 shares. Approximately 1.4% of the company’s shares are short sold. Based on an average daily volume of 34,678 shares, the days-to-cover ratio is presently 2.9 days.

Institutional Investors Weigh In On Mustang Bio

An institutional investor recently raised its position in Mustang Bio stock. Kestra Advisory Services LLC boosted its stake in Mustang Bio, Inc. (NASDAQ:MBIO) by 58.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 176,042 shares of the company’s stock after acquiring 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. Hedge funds and other institutional investors own 9.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Mustang Bio in a research report on Tuesday, April 21st. One research 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 Up 1.8%

MBIO traded up $0.01 during trading on Friday, hitting $0.75. The company had a trading volume of 34,545 shares, compared to its average volume of 35,460. The company has a market capitalization of $5.72 million, a PE ratio of -1.93 and a beta of 2.11. Mustang Bio has a one year low of $0.53 and a one year high of $7.00. The firm’s 50-day moving average price is $0.83 and its 200 day moving average price is $1.05.

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.