Turnstone Biologics Corp. (NASDAQ:TSBX) Short Interest Down 21.9% in November

Turnstone Biologics Corp. (NASDAQ:TSBX) was the recipient of a significant decrease in short interest in November. As of November 30th, there was short interest totalling 548,700 shares, a decrease of 21.9% from the November 15th total of 702,900 shares. Currently, 4.0% of the shares of the stock are sold short. Based on an average daily volume of 271,500 shares, the short-interest ratio is presently 2.0 days.

Institutional Investors Weigh In On Turnstone Biologics

A hedge fund recently raised its stake in Turnstone Biologics stock. FMR LLC boosted its stake in Turnstone Biologics Corp. (NASDAQ:TSBX) by 3.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,172,987 shares of the company’s stock after acquiring an additional 37,738 shares during the quarter. FMR LLC owned 5.07% of Turnstone Biologics worth $653,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 52.51% of the company’s stock.

Analyst Upgrades and Downgrades

TSBX has been the subject of several recent research reports. Bank of America lowered shares of Turnstone Biologics from a “neutral” rating to an “underperform” rating in a research report on Friday, November 15th. Piper Sandler decreased 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 Stock Performance

Turnstone Biologics stock traded down $0.01 during trading hours on Monday, hitting $0.47. 11,742 shares of the stock were exchanged, compared to its average volume of 219,647. The stock has a market capitalization of $10.87 million, a P/E ratio of -0.15 and a beta of 2.44. Turnstone Biologics has a 12 month low of $0.40 and a 12 month high of $5.75. The business’s 50-day moving average is $0.50 and its two-hundred day moving average is $1.33.

Turnstone Biologics (NASDAQ:TSBX) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.74) EPS for the quarter, beating the consensus estimate of ($0.87) by $0.13. On average, equities analysts predict that Turnstone Biologics will post -3.75 earnings per share for the current fiscal year.

About Turnstone Biologics

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.