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

Turnstone Biologics Corp. (NASDAQ:TSBX) was the recipient of a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 702,900 shares, an increase of 91.4% from the October 31st total of 367,200 shares. Based on an average daily volume of 283,300 shares, the days-to-cover ratio is currently 2.5 days. Currently, 5.2% of the shares of the stock are short sold.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Bank of America cut Turnstone Biologics from a “neutral” rating to an “underperform” rating in a report on Friday, November 15th. Piper Sandler cut their price target on Turnstone Biologics from $20.00 to $3.75 and set an “overweight” rating for the company in a report on Monday, August 19th.

Hedge Funds Weigh In On Turnstone Biologics

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

Turnstone Biologics Trading Up 2.0 %

Shares of NASDAQ TSBX traded up $0.01 during midday trading on Friday, reaching $0.52. 22,303 shares of the stock were exchanged, compared to its average volume of 225,742. The stock has a 50 day moving average price of $0.51 and a 200-day moving average price of $1.52. The company has a market capitalization of $11.91 million, a P/E ratio of -0.16 and a beta of 2.21. Turnstone Biologics has a 52-week low of $0.44 and a 52-week high of $5.75.

Turnstone Biologics (NASDAQ:TSBX) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.74) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.87) by $0.13. On average, analysts forecast that Turnstone Biologics will post -3.75 earnings per share for the current year.

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.