Mustang Bio, Inc. (NASDAQ:MBIO) Short Interest Down 40.6% in July

Mustang Bio, Inc. (NASDAQ:MBIO) was the target of 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. Based on an average daily volume of 41,980 shares, the days-to-cover ratio is currently 1.4 days. Approximately 0.8% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Mustang Bio

An institutional investor recently bought a new stake in Mustang Bio stock. DRW Securities LLC bought a new position in shares of Mustang Bio, Inc. (NASDAQ:MBIO) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 reporting period. Hedge funds and other institutional investors own 9.95% of the company’s stock.

Mustang Bio Stock Up 1.9%

Shares of MBIO stock traded up $0.01 during mid-day trading on Thursday, reaching $0.59. 14,369 shares of the stock traded hands, compared to its average volume of 135,924. Mustang Bio has a 1-year low of $0.53 and a 1-year high of $1.88. The company has a market cap of $4.48 million, a price-to-earnings ratio of -1.23 and a beta of 2.05. The stock’s fifty day simple moving average is $0.68 and its two-hundred day simple moving average is $0.79.

Mustang Bio (NASDAQ:MBIO) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($140.00) by $139.86.

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.