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

Turnstone Biologics Corp. (NASDAQ:TSBX) was the target of a large growth in short interest during the month of 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 shares of the company are sold short. Based on an average daily volume of 283,300 shares, the days-to-cover ratio is currently 2.5 days.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on TSBX shares. Bank of America cut Turnstone Biologics from a “neutral” rating to an “underperform” rating in a research report on Friday, November 15th. Piper Sandler lowered their price objective 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.

Turnstone Biologics Stock Performance

Shares of NASDAQ TSBX opened at $0.51 on Thursday. Turnstone Biologics has a 52 week low of $0.44 and a 52 week high of $5.75. The stock has a market capitalization of $11.68 million, a P/E ratio of -0.16 and a beta of 2.21. The stock’s fifty day moving average is $0.51 and its 200 day moving average is $1.53.

Turnstone Biologics (NASDAQ:TSBX) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.74) EPS for the quarter, topping analysts’ consensus estimates of ($0.87) by $0.13. Equities research analysts forecast that Turnstone Biologics will post -3.75 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Turnstone Biologics stock. Sei Investments Co. bought a new stake in Turnstone Biologics Corp. (NASDAQ:TSBX) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 11,882 shares of the company’s stock, valued at approximately $31,000. Sei Investments Co. owned about 0.05% of Turnstone Biologics as of its most recent SEC filing. 52.51% of the stock is currently owned by hedge funds and other institutional investors.

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.