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

Mustang Bio, Inc. (NASDAQ:MBIO) was the recipient of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 389,000 shares, a growth of 828.4% from the February 29th total of 41,900 shares. Approximately 5.1% of the shares of the company are sold short. Based on an average trading volume of 144,100 shares, the short-interest ratio is currently 2.7 days.

Institutional Investors Weigh In On Mustang Bio

Institutional investors have recently modified their holdings of the company. Barclays PLC purchased a new position in Mustang Bio during the 2nd quarter valued at about $26,000. Cetera Advisor Networks LLC purchased a new position in Mustang Bio during the second quarter worth $31,000. BNP Paribas Arbitrage SA raised its holdings in shares of Mustang Bio by 471.1% in the second quarter. BNP Paribas Arbitrage SA now owns 53,718 shares of the company’s stock worth $31,000 after acquiring an additional 44,312 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Mustang Bio by 42.9% in the first quarter. Envestnet Asset Management Inc. now owns 60,467 shares of the company’s stock valued at $61,000 after acquiring an additional 18,156 shares in the last quarter. Finally, Virtu Financial LLC boosted its stake in shares of Mustang Bio by 724.1% during the second quarter. Virtu Financial LLC now owns 132,494 shares of the company’s stock valued at $78,000 after acquiring an additional 116,416 shares during the last quarter. Hedge funds and other institutional investors own 9.95% of the company’s stock.

Mustang Bio Stock Up 10.6 %

NASDAQ:MBIO traded up $0.10 during midday trading on Friday, reaching $1.04. The stock had a trading volume of 50,078 shares, compared to its average volume of 358,777. The stock has a market cap of $10.81 million, a P/E ratio of -0.17 and a beta of 1.60. The firm has a fifty day simple moving average of $1.25 and a two-hundred day simple moving average of $1.52. Mustang Bio has a 12-month low of $0.90 and a 12-month high of $8.17.

Mustang Bio (NASDAQ:MBIO) last released its quarterly earnings data on Monday, March 11th. The company reported ($0.71) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.68) by $0.97. On average, sell-side analysts anticipate that Mustang Bio will post -3.25 earnings per share for the current fiscal year.

About Mustang Bio

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.