Turnstone Biologics Corp. (NASDAQ:TSBX) Sees Large Increase in Short Interest

Turnstone Biologics Corp. (NASDAQ:TSBX) was the target of a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 702,900 shares, a growth of 91.4% from the October 31st total of 367,200 shares. Based on an average trading volume of 283,300 shares, the short-interest ratio is currently 2.5 days. Approximately 5.2% of the company’s shares are sold short.

Turnstone Biologics Stock Up 2.8 %

Shares of NASDAQ TSBX traded up $0.01 during trading on Friday, reaching $0.52. 22,303 shares of the stock were exchanged, compared to its average volume of 225,742. The business’s 50-day moving average price is $0.51 and its 200 day moving average price is $1.52. Turnstone Biologics has a twelve month low of $0.44 and a twelve month high of $5.75. The company has a market capitalization of $12.00 million, a price-to-earnings ratio of -0.16 and a beta of 2.21.

Turnstone Biologics (NASDAQ:TSBX) last posted its earnings results on Tuesday, November 12th. The company reported ($0.74) EPS for the quarter, topping analysts’ consensus estimates of ($0.87) by $0.13. As a group, sell-side analysts expect that Turnstone Biologics will post -3.75 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Bank of America cut shares of Turnstone Biologics from a “neutral” rating to an “underperform” rating in a research report on Friday, November 15th. Piper Sandler reduced their price target on shares of 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.