Mustang Bio Inc (NASDAQ:MBIO) was the target of a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 610,700 shares, a growth of 9.1% from the December 15th total of 560,000 shares. Based on an average trading volume of 337,000 shares, the short-interest ratio is currently 1.8 days. Approximately 2.2% of the company’s shares are sold short.
A number of hedge funds have recently made changes to their positions in MBIO. Vanguard Group Inc. lifted its position in Mustang Bio by 293.2% during the second quarter. Vanguard Group Inc. now owns 1,627,415 shares of the company’s stock valued at $5,989,000 after buying an additional 1,213,550 shares in the last quarter. BlackRock Inc. lifted its position in Mustang Bio by 117.8% during the second quarter. BlackRock Inc. now owns 1,734,118 shares of the company’s stock valued at $6,381,000 after buying an additional 937,794 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Mustang Bio by 493.3% during the second quarter. Renaissance Technologies LLC now owns 541,053 shares of the company’s stock valued at $1,991,000 after purchasing an additional 449,853 shares during the period. State Street Corp raised its stake in shares of Mustang Bio by 49.7% during the third quarter. State Street Corp now owns 477,694 shares of the company’s stock valued at $1,557,000 after purchasing an additional 158,696 shares during the period. Finally, Macquarie Group Ltd. purchased a new stake in shares of Mustang Bio during the second quarter valued at approximately $442,000. 26.71% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have weighed in on the stock. ValuEngine raised shares of Mustang Bio from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. HC Wainwright reaffirmed a “buy” rating and set a $7.00 price target on shares of Mustang Bio in a research report on Tuesday, November 12th. Zacks Investment Research raised shares of Mustang Bio from a “hold” rating to a “buy” rating and set a $4.25 price target on the stock in a research report on Saturday, December 28th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and set a $7.00 price target on shares of Mustang Bio in a research report on Thursday, January 9th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $9.06.
Shares of MBIO stock opened at $3.98 on Wednesday. The stock has a market cap of $161.44 million, a price-to-earnings ratio of -3.49 and a beta of 2.29. The company has a quick ratio of 11.82, a current ratio of 11.82 and a debt-to-equity ratio of 0.24. Mustang Bio has a fifty-two week low of $2.51 and a fifty-two week high of $10.20. The firm’s 50 day moving average price is $3.61 and its two-hundred day moving average price is $3.42.
Mustang Bio (NASDAQ:MBIO) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.01. On average, equities analysts forecast that Mustang Bio will post -1.14 EPS 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.
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