Turnstone Biologics Corp. (NASDAQ:TSBX) Short Interest Update

Turnstone Biologics Corp. (NASDAQ:TSBX) was the recipient of a significant drop in short interest during the month of October. As of October 15th, there was short interest totalling 387,800 shares, a drop of 22.1% from the September 30th total of 497,500 shares. Based on an average trading volume of 263,900 shares, the days-to-cover ratio is presently 1.5 days. Currently, 2.8% of the company’s shares are sold short.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Turnstone Biologics stock. Sei Investments Co. bought a new position in Turnstone Biologics Corp. (NASDAQ:TSBX) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 11,882 shares of the company’s stock, valued at approximately $31,000. Sei Investments Co. owned approximately 0.05% of Turnstone Biologics at the end of the most recent reporting period. 52.51% of the stock is owned by institutional investors and hedge funds.

Turnstone Biologics Stock Performance

TSBX remained flat at $0.51 on Friday. 143,019 shares of the company traded hands, compared to its average volume of 192,183. The firm has a market capitalization of $11.85 million, a price-to-earnings ratio of -0.05 and a beta of 2.26. The company’s fifty day simple moving average is $0.60 and its two-hundred day simple moving average is $1.90. Turnstone Biologics has a 52-week low of $0.44 and a 52-week high of $5.75.

Turnstone Biologics (NASDAQ:TSBX) last announced its quarterly earnings results on Wednesday, August 14th. The company reported ($0.92) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.08). On average, equities analysts expect that Turnstone Biologics will post -3.85 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TSBX. Bank of America downgraded shares of Turnstone Biologics from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $10.00 to $0.50 in a research report on Monday, October 14th. Piper Sandler cut their price objective on Turnstone Biologics from $20.00 to $3.75 and set an “overweight” rating on the stock in a research report on Monday, August 19th.

Turnstone Biologics Company Profile

Turnstone Biologics Corp., a clinical stage biotechnology company, focuses on developing medicines to treat and cure patients with solid tumors. The company's lead product includes TIDAL-01 that is in Phase 1 clinical trials for the treatment of breast cancer, colorectal cancer, head and neck cancer and uveal melanoma, as well as an investigator sponsored trials to treat colorectal cancer, head and neck cancer, and cutaneous and non-cutaneous melanomas.