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

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

Turnstone Biologics Stock Performance

TSBX remained flat at $0.51 during trading on Friday. The company had a trading volume of 143,019 shares, compared to its average volume of 192,183. The firm’s fifty day moving average price is $0.60 and its 200-day moving average price is $1.90. Turnstone Biologics has a 52-week low of $0.44 and a 52-week high of $5.75. The stock has a market cap of $11.85 million, a PE ratio of -0.05 and a beta of 2.26.

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 the consensus estimate of ($0.84) by ($0.08). On average, equities research analysts expect that Turnstone Biologics will post -3.85 EPS for the current year.

Institutional Trading of Turnstone Biologics

An institutional investor recently bought a new position in Turnstone Biologics stock. Sei Investments Co. purchased a new position in shares of Turnstone Biologics Corp. (NASDAQ:TSBX) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 11,882 shares of the company’s stock, valued at approximately $31,000. Sei Investments Co. owned approximately 0.05% of Turnstone Biologics as of its most recent filing with the SEC. 52.51% of the stock is owned by institutional investors.

Analyst Ratings Changes

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