Short Interest in Turnstone Biologics Corp. (NASDAQ:TSBX) Increases By 30.5%

Turnstone Biologics Corp. (NASDAQ:TSBX) saw a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 399,900 shares, a growth of 30.5% from the February 13th total of 306,500 shares. Currently, 2.3% of the shares of the company are sold short. Based on an average daily trading volume, of 206,100 shares, the days-to-cover ratio is currently 1.9 days.

Turnstone Biologics Stock Down 2.5 %

Turnstone Biologics stock traded down $0.01 during trading on Tuesday, hitting $0.38. The stock had a trading volume of 5,832 shares, compared to its average volume of 225,264. The stock’s 50 day moving average is $0.42 and its two-hundred day moving average is $0.49. Turnstone Biologics has a 1 year low of $0.34 and a 1 year high of $3.88. The stock has a market cap of $8.88 million, a price-to-earnings ratio of -0.12 and a beta of 2.04.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Turnstone Biologics stock. FMR LLC raised 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 Form 13F filing with the Securities & Exchange Commission. 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 as of its most recent filing with the Securities & Exchange Commission. 52.51% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Piper Sandler downgraded shares of Turnstone Biologics from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $3.75 to $0.40 in a report on Wednesday, February 5th.

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.