Mustang Bio, Inc. (NASDAQ:MBIO) Sees Significant Growth in Short Interest

by · The Cerbat Gem

Mustang Bio, Inc. (NASDAQ:MBIO – Get Free Report) was the target of a significant growth in short interest in the month of October. As of October 15th, there was short interest totalling 502,000 shares, a growth of 31.4% from the September 30th total of 382,100 shares. Based on an average trading volume of 1,720,000 shares, the days-to-cover ratio is presently 0.3 days. Approximately 1.5% of the shares of the company are short sold.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MBIO. Koss Olinger Consulting LLC bought a new stake in shares of Mustang Bio in the 2nd quarter worth approximately $47,000. Thoroughbred Financial Services LLC purchased a new stake in Mustang Bio in the second quarter worth $25,000. Finally, Virtu Financial LLC bought a new stake in shares of Mustang Bio in the first quarter valued at $31,000. 9.95% of the stock is owned by institutional investors.

Mustang Bio Stock Down 2.7 %

MBIO stock traded down $0.01 during midday trading on Tuesday, hitting $0.29. The company’s stock had a trading volume of 823,918 shares, compared to its average volume of 9,582,243. Mustang Bio has a 1 year low of $0.13 and a 1 year high of $1.97. The stock has a market cap of $3.68 million, a price-to-earnings ratio of -0.07 and a beta of 1.96. The stock’s 50-day moving average price is $0.26 and its 200 day moving average price is $0.32.

Mustang Bio (NASDAQ:MBIO – Get Free Report) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.10). As a group, equities analysts forecast that Mustang Bio will post -0.7 earnings per share for the current fiscal year.

Mustang Bio Company Profile

(Get Free Report)

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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