Turnstone Biologics Corp. (NASDAQ:TSBX) Short Interest Update

Turnstone Biologics Corp. (NASDAQ:TSBX) saw a significant growth in short interest during the month of August. As of August 15th, there was short interest totalling 209,900 shares, a growth of 47.6% from the July 31st total of 142,200 shares. Based on an average daily volume of 258,500 shares, the days-to-cover ratio is currently 0.8 days. Currently, 1.5% of the shares of the company are short sold.

Hedge Funds Weigh In On Turnstone Biologics

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

Turnstone Biologics Trading Up 1.2 %

Shares of TSBX stock traded up $0.01 on Friday, reaching $0.70. The company’s stock had a trading volume of 159,361 shares, compared to its average volume of 204,422. Turnstone Biologics has a 1 year low of $0.68 and a 1 year high of $12.16. The company has a market capitalization of $16.24 million and a price-to-earnings ratio of -0.07. The stock’s fifty day simple moving average is $2.04 and its 200-day simple moving average is $2.66.

Turnstone Biologics (NASDAQ:TSBX) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($0.92) EPS for the quarter, missing the consensus estimate of ($0.84) by ($0.08). Equities research analysts forecast that Turnstone Biologics will post -3.9 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Piper Sandler dropped their target price on Turnstone Biologics from $20.00 to $3.75 and set an “overweight” rating on the stock in a research report on Monday, August 19th. Bank of America reduced their target price on shares of Turnstone Biologics from $12.00 to $10.00 and set a “buy” rating for the company in a report on Monday, August 19th.

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.