Turnstone Biologics Corp. (NASDAQ:TSBX) Short Interest Down 16.6% in September

by · The Markets Daily

Turnstone Biologics Corp. (NASDAQ:TSBX – Get Free Report) was the target of a large drop in short interest during the month of September. As of September 15th, there was short interest totalling 397,100 shares, a drop of 16.6% from the August 31st total of 476,400 shares. Based on an average daily trading volume, of 266,200 shares, the short-interest ratio is currently 1.5 days. Currently, 2.9% of the shares of the company are sold short.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Piper Sandler reduced their price objective on 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 their price target on Turnstone Biologics from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, August 19th.

Check Out Our Latest Report on TSBX

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TSBX. Kathleen S. Wright Associates Inc. acquired a new position in Turnstone Biologics in the first quarter valued at approximately $111,000. Zimmer Partners LP lifted its holdings in Turnstone Biologics by 271.4% in the first quarter. Zimmer Partners LP now owns 179,026 shares of the company’s stock valued at $469,000 after acquiring an additional 130,826 shares during the last quarter. Finally, Sei Investments Co. acquired a new position in Turnstone Biologics in the second quarter valued at approximately $31,000. 52.51% of the stock is currently owned by institutional investors and hedge funds.

Turnstone Biologics Stock Down 0.8 %

Shares of Turnstone Biologics stock opened at $0.55 on Monday. Turnstone Biologics has a twelve month low of $0.54 and a twelve month high of $5.75. The business has a 50-day moving average price of $1.29 and a 200 day moving average price of $2.26. The firm has a market cap of $12.79 million, a PE ratio of -0.05 and a beta of 2.27.

Turnstone Biologics (NASDAQ:TSBX – Get Free Report) last issued its 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). On average, sell-side analysts expect that Turnstone Biologics will post -3.9 EPS for the current year.

Turnstone Biologics Company Profile

(Get Free Report)

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.

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