Turnstone Biologics Corp. (NASDAQ:TSBX) Short Interest Up 25.3% in September

Turnstone Biologics Corp. (NASDAQ:TSBX) saw a large growth in short interest in September. As of September 30th, there was short interest totalling 497,500 shares, a growth of 25.3% from the September 15th total of 397,100 shares. Based on an average trading volume of 252,200 shares, the days-to-cover ratio is presently 2.0 days. Approximately 3.6% of the company’s shares are short sold.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Sei Investments Co. purchased a new stake in shares of Turnstone Biologics during the second quarter worth about $31,000. Kathleen S. Wright Associates Inc. bought a new stake in shares of Turnstone Biologics in the 1st quarter worth about $111,000. Finally, Zimmer Partners LP boosted its position in shares of Turnstone Biologics by 271.4% during the first quarter. Zimmer Partners LP now owns 179,026 shares of the company’s stock valued at $469,000 after buying an additional 130,826 shares during the period. 52.51% of the stock is currently owned by institutional investors.

Turnstone Biologics Trading Up 1.8 %

TSBX stock traded up $0.01 during midday trading on Friday, hitting $0.46. The company had a trading volume of 119,147 shares, compared to its average volume of 139,320. The stock has a market cap of $10.69 million, a price-to-earnings ratio of -0.13 and a beta of 2.26. Turnstone Biologics has a 52 week low of $0.44 and a 52 week high of $5.75. The stock’s 50 day moving average price is $0.90 and its 200 day moving average price is $2.09.

Turnstone Biologics (NASDAQ:TSBX) last released its quarterly earnings results on Wednesday, August 14th. The company reported ($0.92) earnings per share for the quarter, missing the consensus estimate of ($0.84) by ($0.08). Analysts predict that Turnstone Biologics will post -3.9 earnings per share for the current year.

Analysts Set New Price Targets

TSBX has been the subject of several recent research reports. Piper Sandler decreased their target price on shares of Turnstone Biologics from $20.00 to $3.75 and set an “overweight” rating for the company in a research report on Monday, August 19th. Bank of America reduced their price objective on Turnstone Biologics from $12.00 to $10.00 and set a “buy” rating for the company in a 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.