Turnstone Biologics Corp. (NASDAQ:TSBX) Short Interest Up 30.5% in February

Turnstone Biologics Corp. (NASDAQ:TSBX) was the recipient of a significant increase in short interest in February. As of February 28th, there was short interest totalling 399,900 shares, an increase of 30.5% from the February 13th total of 306,500 shares. Approximately 2.3% of the shares of the company are short sold. Based on an average trading volume of 206,100 shares, the short-interest ratio is currently 1.9 days.

Analysts Set New Price Targets

Separately, Piper Sandler cut Turnstone Biologics from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $3.75 to $0.40 in a research report on Wednesday, February 5th.

Turnstone Biologics Trading Down 2.5 %

Shares of TSBX stock traded down $0.01 during trading hours on Tuesday, reaching $0.38. The stock had a trading volume of 5,832 shares, compared to its average volume of 225,264. The stock’s fifty day simple moving average is $0.42 and its 200 day simple moving average is $0.49. The firm has a market capitalization of $8.88 million, a PE ratio of -0.12 and a beta of 2.04. Turnstone Biologics has a 12 month low of $0.34 and a 12 month high of $3.88.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Turnstone Biologics stock. Takeda Pharmaceutical Co. Ltd. acquired a new stake in shares of Turnstone Biologics Corp. (NASDAQ:TSBX) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 895,824 shares of the company’s stock, valued at approximately $448,000. Turnstone Biologics accounts for approximately 1.7% of Takeda Pharmaceutical Co. Ltd.’s holdings, making the stock its 8th largest position. Takeda Pharmaceutical Co. Ltd. owned approximately 3.87% of Turnstone Biologics as of its most recent SEC filing. Institutional investors and hedge funds own 52.51% of the company’s stock.

Turnstone Biologics Company Profile

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.