Turn Therapeutics (NASDAQ:TTRX) Stock Price Down 7.1% – Here’s Why

Turn Therapeutics Inc. (NASDAQ:TTRX) shares were down 7.1% during trading on Tuesday . The company traded as low as $4.50 and last traded at $4.55. Approximately 59,358 shares changed hands during trading, an increase of 135% from the average daily volume of 25,234 shares. The stock had previously closed at $4.90.

Analyst Upgrades and Downgrades

Separately, D. Boral Capital reaffirmed a “buy” rating and set a $8.00 price target on shares of Turn Therapeutics in a research report on Tuesday, March 24th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Turn Therapeutics has an average rating of “Hold” and a consensus target price of $8.00.

Turn Therapeutics Stock Up 4.4%

The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.97. The firm has a market cap of $148.06 million and a P/E ratio of -26.16. The stock’s 50-day simple moving average is $3.63 and its 200 day simple moving average is $3.73.

Turn Therapeutics (NASDAQ:TTRX) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.03) EPS for the quarter.

Hedge Funds Weigh In On Turn Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in TTRX. Hodges Capital Management Inc. bought a new position in shares of Turn Therapeutics during the 4th quarter worth about $39,000. LPL Financial LLC bought a new position in Turn Therapeutics in the 4th quarter valued at about $51,000. Tamar Securities LLC bought a new position in Turn Therapeutics in the 4th quarter valued at about $59,000. Composition Wealth LLC bought a new position in Turn Therapeutics in the 4th quarter valued at about $63,000. Finally, Jane Street Group LLC bought a new position in Turn Therapeutics in the 4th quarter valued at about $68,000.

Turn Therapeutics Company Profile

We are a pharmaceutical and medical device development company built around a proprietary platform technology designed to enhance drug performance. Our patented mixing process — commercially referred to as PermaFusion™ (“PermaFusion”) — enables stable suspension of polar, water-soluble active pharmaceutical ingredients (“APIs”) in oil-based carriers without the use of emulsifiers. This innovation reduces the quantity of required API inclusion by improving its bioavailability. Reduced API load reduces the likelihood of adverse events.