Mustang Bio, Inc. (NASDAQ:MBIO) Short Interest Up 828.4% in March

Mustang Bio, Inc. (NASDAQ:MBIO) was the target of a significant growth in short interest during 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. Based on an average daily trading volume, of 144,100 shares, the short-interest ratio is currently 2.7 days. Approximately 5.1% of the company’s shares are sold short.

Hedge Funds Weigh In On Mustang Bio

Several institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC purchased a new position in shares of Mustang Bio during the second quarter valued at about $26,000. Cetera Advisor Networks LLC purchased a new position in shares of Mustang Bio during the second quarter valued at approximately $31,000. BNP Paribas Arbitrage SA boosted its position in shares of Mustang Bio by 471.1% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 53,718 shares of the company’s stock worth $31,000 after purchasing an additional 44,312 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Mustang Bio by 43.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 86,932 shares of the company’s stock worth $51,000 after buying an additional 26,465 shares during the last quarter. Finally, Jane Street Group LLC bought a new position in shares of Mustang Bio during the fourth quarter valued at $56,000. Institutional investors own 9.95% of the company’s stock.

Mustang Bio Trading Up 10.6 %

NASDAQ MBIO traded up $0.10 during trading hours on Friday, hitting $1.04. 50,078 shares of the company’s stock were exchanged, compared to its average volume of 358,777. Mustang Bio has a 1-year low of $0.90 and a 1-year high of $8.17. The stock has a 50-day simple moving average of $1.25 and a 200 day simple moving average of $1.52. The firm has a market cap of $10.81 million, a price-to-earnings ratio of -0.17 and a beta of 1.60.

Mustang Bio (NASDAQ:MBIO) last posted its quarterly earnings results on Monday, March 11th. The company reported ($0.71) EPS for the quarter, topping analysts’ consensus estimates 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.