Short Interest in Turnstone Biologics Corp. (NASDAQ:TSBX) Grows By 91.4%

Turnstone Biologics Corp. (NASDAQ:TSBX) saw a large growth in short interest in 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. Approximately 5.2% of the company’s stock are short sold. Based on an average trading volume of 283,300 shares, the days-to-cover ratio is currently 2.5 days.

Analyst Ratings Changes

TSBX has been the subject of several research reports. Piper Sandler decreased their price target on shares of Turnstone Biologics from $20.00 to $3.75 and set an “overweight” rating for the company in a research note on Monday, August 19th. Bank of America cut shares of Turnstone Biologics from a “neutral” rating to an “underperform” rating in a research note on Friday, November 15th.

Institutional Investors Weigh In On Turnstone Biologics

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

Turnstone Biologics Trading Up 1.0 %

NASDAQ TSBX opened at $0.51 on Thursday. The company has a market cap of $11.68 million, a PE ratio of -0.16 and a beta of 2.21. Turnstone Biologics has a 12 month low of $0.44 and a 12 month high of $5.75. The stock has a 50 day moving average of $0.51 and a 200-day moving average of $1.53.

Turnstone Biologics (NASDAQ:TSBX) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.74) EPS for the quarter, beating the consensus estimate of ($0.87) by $0.13. As a group, sell-side analysts predict that Turnstone Biologics will post -3.75 EPS 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.