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

Mustang Bio, Inc. (NASDAQ:MBIO) was the recipient of a significant growth in short interest during 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. Approximately 1.5% of the company’s stock are short sold. Based on an average daily trading volume, of 1,720,000 shares, the days-to-cover ratio is currently 0.3 days.

Mustang Bio Trading Down 2.7 %

Shares of MBIO traded down $0.01 on Tuesday, reaching $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 twelve month low of $0.13 and a twelve month high of $1.97. The stock has a market capitalization of $3.68 million, a PE ratio of -0.07 and a beta of 1.96. The firm has a fifty day moving average of $0.26 and a 200-day moving average of $0.32.

Mustang Bio (NASDAQ:MBIO) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.10). As a group, equities analysts anticipate that Mustang Bio will post -0.7 EPS for the current fiscal year.

Institutional Investors Weigh In On Mustang Bio

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Koss Olinger Consulting LLC bought a new stake in shares of Mustang Bio in the 2nd quarter worth $47,000. Thoroughbred Financial Services LLC purchased a new position in Mustang Bio during the second quarter worth about $25,000. Finally, Virtu Financial LLC bought a new stake in Mustang Bio in the 1st quarter worth about $31,000. 9.95% of the stock is owned by hedge funds and other institutional investors.

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.