Turnstone Biologics Corp. (NASDAQ:TSBX – Get Free Report) saw a significant growth in short interest during the month of September. As of September 30th, there was short interest totalling 497,500 shares, a growth of 25.3% from the September 15th total of 397,100 shares. Approximately 3.6% of the company’s stock are short sold. Based on an average daily trading volume, of 252,200 shares, the short-interest ratio is presently 2.0 days.
Wall Street Analyst Weigh In
Several research firms recently weighed in on TSBX. Piper Sandler cut their price objective on Turnstone Biologics from $20.00 to $3.75 and set an “overweight” rating for the company in a research report on Monday, August 19th. Bank of America cut Turnstone Biologics from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $10.00 to $0.50 in a research report on Monday.
Check Out Our Latest Analysis on TSBX
Turnstone Biologics Price Performance
Turnstone Biologics (NASDAQ:TSBX – Get Free Report) last issued 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, research analysts expect that Turnstone Biologics will post -3.9 earnings per share for the current year.
Institutional Investors Weigh In On Turnstone Biologics
Several large investors have recently modified their holdings of TSBX. Kathleen S. Wright Associates Inc. bought a new stake in Turnstone Biologics during the 1st quarter worth approximately $111,000. Zimmer Partners LP grew its position in Turnstone Biologics by 271.4% during the 1st quarter. Zimmer Partners LP now owns 179,026 shares of the company’s stock worth $469,000 after acquiring an additional 130,826 shares during the last quarter. Finally, Sei Investments Co. bought a new stake in Turnstone Biologics during the 2nd quarter worth approximately $31,000. 52.51% of the stock is currently owned by institutional investors.
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.
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