Mustang Bio Inc (NASDAQ:MBIO) was the recipient of a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 1,201,600 shares, an increase of 18.5% from the July 31st total of 1,013,700 shares. Based on an average trading volume of 288,900 shares, the days-to-cover ratio is presently 4.2 days. Currently, 4.3% of the shares of the company are sold short.
Shares of MBIO stock traded up $0.18 during mid-day trading on Friday, hitting $4.61. 236,400 shares of the stock traded hands, compared to its average volume of 362,576. Mustang Bio has a twelve month low of $2.18 and a twelve month high of $10.20. The firm has a market cap of $186.47 million, a price-to-earnings ratio of -4.04 and a beta of 2.13. The company’s 50-day simple moving average is $3.65 and its 200-day simple moving average is $3.75. The company has a debt-to-equity ratio of 0.21, a quick ratio of 13.10 and a current ratio of 13.10.
Mustang Bio (NASDAQ:MBIO) last issued its quarterly earnings results on Friday, August 9th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.05). Analysts forecast that Mustang Bio will post -1.14 earnings per share for the current year.
Several hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its position in shares of Mustang Bio by 117.8% during the 2nd quarter. BlackRock Inc. now owns 1,734,118 shares of the company’s stock valued at $6,381,000 after purchasing an additional 937,794 shares during the period. Vanguard Group Inc. grew its holdings in shares of Mustang Bio by 293.2% in the 2nd quarter. Vanguard Group Inc. now owns 1,627,415 shares of the company’s stock worth $5,989,000 after acquiring an additional 1,213,550 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Mustang Bio by 493.3% in the 2nd quarter. Renaissance Technologies LLC now owns 541,053 shares of the company’s stock worth $1,991,000 after acquiring an additional 449,853 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Mustang Bio by 26.8% in the 2nd quarter. Northern Trust Corp now owns 228,178 shares of the company’s stock worth $840,000 after acquiring an additional 48,252 shares during the last quarter. Finally, FNY Investment Advisers LLC acquired a new position in shares of Mustang Bio in the 2nd quarter worth $736,000. Institutional investors own 26.90% of the company’s stock.
Several brokerages have recently issued reports on MBIO. HC Wainwright set a $7.00 price target on Mustang Bio and gave the company a “buy” rating in a research report on Friday, August 23rd. Cantor Fitzgerald began coverage on Mustang Bio in a research report on Thursday, June 20th. They set an “overweight” rating and a $7.00 price target on the stock. Zacks Investment Research cut Mustang Bio from a “hold” rating to a “sell” rating in a research report on Tuesday, August 20th. Finally, ValuEngine upgraded Mustang Bio from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $9.13.
Mustang Bio Company Profile
Mustang Bio, Inc, a clinical-stage biopharmaceutical company, focuses on translating medical breakthroughs in cell and gene therapies into potential cures for hematologic cancers, solid tumors, and rare genetic diseases. Its pipeline focuses on gene therapy programs for rare genetic disorders, chimeric antigen receptor (CAR) engineered T cell (CAR T) therapies for hematologic malignancies, and CAR T therapies for solid tumors.
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