Short Interest in Mustang Bio, Inc. (NASDAQ:MBIO) Decreases By 19.4%

Mustang Bio, Inc. (NASDAQ:MBIO) was the target of a large decline in short interest in the month of April. As of April 15th, there was short interest totaling 101,076 shares, a decline of 19.4% from the March 31st total of 125,433 shares. Based on an average daily volume of 34,678 shares, the days-to-cover ratio is currently 2.9 days. Currently, 1.4% of the company’s shares are sold short.

Hedge Funds Weigh In On 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% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 111,042 shares of the company’s stock after acquiring an additional 44,934 shares during the quarter. Kestra Advisory Services LLC owned about 1.52% of Mustang Bio worth $109,000 at the end of the most recent reporting period. 9.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Mustang Bio in a report on Tuesday, April 21st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Mustang Bio presently has an average rating of “Sell”.

Mustang Bio Price Performance

NASDAQ MBIO traded down $0.01 on Thursday, reaching $0.74. The company had a trading volume of 18,533 shares, compared to its average volume of 37,366. The firm has a market capitalization of $5.62 million, a PE ratio of -1.90 and a beta of 2.18. Mustang Bio has a 1 year low of $0.53 and a 1 year high of $7.00. The firm has a 50-day moving average of $0.83 and a 200-day moving average of $1.05.

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.