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

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

Mustang Bio Stock Up 1.9%

MBIO stock traded up $0.01 during midday trading on Thursday, reaching $0.59. 14,369 shares of the company’s stock traded hands, compared to its average volume of 135,924. Mustang Bio has a 52 week low of $0.53 and a 52 week 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 firm’s fifty day moving average price is $0.68 and its 200-day moving average price 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 for the quarter, beating the consensus estimate of ($140.00) by $139.86.

Institutional Trading of Mustang Bio

A hedge fund recently raised its stake in Mustang Bio stock. Kestra Advisory Services LLC boosted its stake in Mustang Bio, Inc. (NASDAQ:MBIO) by 68.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 111,042 shares of the company’s stock after acquiring an additional 44,934 shares during the period. Kestra Advisory Services LLC owned 1.52% of Mustang Bio worth $109,000 as of its most recent filing with the SEC. 9.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Mustang Bio in a research note on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.

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.