Short Interest in Turnstone Biologics Corp. (NASDAQ:TSBX) Drops By 36.5%

Turnstone Biologics Corp. (NASDAQ:TSBX) was the recipient of a large decrease in short interest in February. As of February 15th, there was short interest totalling 306,500 shares, a decrease of 36.5% from the January 31st total of 482,900 shares. Approximately 1.8% of the company’s stock are sold short. Based on an average trading volume of 200,100 shares, the short-interest ratio is currently 1.5 days.

Turnstone Biologics Trading Up 1.5 %

TSBX stock opened at $0.39 on Friday. The business’s 50-day moving average price is $0.45 and its two-hundred day moving average price is $0.53. The firm has a market cap of $8.92 million, a PE ratio of -0.12 and a beta of 2.12. Turnstone Biologics has a 1-year low of $0.37 and a 1-year high of $4.97.

Institutional Inflows and Outflows

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

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Piper Sandler downgraded Turnstone Biologics from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $3.75 to $0.40 in a research report on Wednesday, February 5th. Bank of America cut Turnstone Biologics from a “neutral” rating to an “underperform” rating in a research note on Friday, November 15th.

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.