Turn Therapeutics Inc. (NASDAQ:TTRX) Shares Shorted: Short Interest Up 74.1% in September

Turn Therapeutics Inc. (NASDAQ:TTRX) was the target of a significant increase in short interest in the month of September. As of September 30th, there was short interest totaling 268,757 shares, an increase of 74.1% from the September 15th total of 154,372 shares. Approximately 0.9% of the shares of the company are sold short. Based on an average daily volume of 201,829 shares, the short-interest ratio is presently 1.3 days.

Turn Therapeutics Price Performance

Turn Therapeutics stock traded up $0.70 during midday trading on Thursday, reaching $11.81. 20,492 shares of the company were exchanged, compared to its average volume of 66,400. The company has a market capitalization of $351.97 million and a price-to-earnings ratio of -40.72. The firm’s 50-day simple moving average is $11.56 and its 200-day simple moving average is $7.82. Turn Therapeutics has a 1 year low of $2.57 and a 1 year high of $16.45. The company has a debt-to-equity ratio of 8.83, a quick ratio of 1.19 and a current ratio of 1.19.

Turn Therapeutics (NASDAQ:TTRX) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($0.20) earnings per share (EPS) for the quarter. On average, analysts anticipate that Turn Therapeutics will post -0.40 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently commented on TTRX. Wall Street Zen raised Turn Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, October 10th. Weiss Ratings lowered Turn Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, August 18th. WBB Securities reiterated a “sell” rating and issued a $10.00 price objective on shares of Turn Therapeutics in a research report on Monday, September 14th. Zacks Research raised Turn Therapeutics to a “hold” rating in a report on Tuesday, July 21st. Finally, LADENBURG THALM/SH SH upgraded shares of Turn Therapeutics to a “strong-buy” rating in a research report on Monday, July 20th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Turn Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $9.00.

Institutional Trading of Turn Therapeutics

Several large investors have recently added to or reduced their stakes in TTRX. Ieq Capital LLC acquired a new position in shares of Turn Therapeutics during the second quarter worth about $1,660,000. Jefferies Financial Group Inc. purchased a new stake in shares of Turn Therapeutics in the second quarter worth about $119,000. Bank of America Corp DE purchased a new stake in shares of Turn Therapeutics in the second quarter worth about $103,000. BlackRock Inc. purchased a new stake in shares of Turn Therapeutics in the second quarter worth about $282,000. Finally, Bridgewater Advisors Inc. acquired a new stake in shares of Turn Therapeutics in the second quarter valued at about $242,000.

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.