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

Mustang Bio, Inc. (NASDAQ:MBIO) was the recipient of a large drop in short interest during the month of March. As of March 15th, there was short interest totalling 44,000 shares, a drop of 52.0% from the February 28th total of 91,700 shares. Based on an average daily volume of 316,300 shares, the short-interest ratio is currently 0.1 days. Currently, 2.8% of the shares of the stock are sold short.

Mustang Bio Stock Down 6.3 %

NASDAQ:MBIO traded down $0.09 on Friday, reaching $1.33. The stock had a trading volume of 73,124 shares, compared to its average volume of 244,964. The company has a market capitalization of $1.27 million, a P/E ratio of -0.02 and a beta of 1.82. Mustang Bio has a 1-year low of $1.26 and a 1-year high of $65.00. The stock has a fifty day moving average price of $2.65 and a 200-day moving average price of $8.07.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Mustang Bio stock. Geode Capital Management LLC raised its holdings in Mustang Bio, Inc. (NASDAQ:MBIO) by 15.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 284,437 shares of the company’s stock after purchasing an additional 38,951 shares during the quarter. Geode Capital Management LLC owned approximately 29.63% of Mustang Bio worth $50,000 as of its most recent SEC filing. Institutional investors and hedge funds own 9.95% of the company’s stock.

Mustang Bio Company Profile

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.