Turnstone Biologics Corp. (NASDAQ:TSBX) Short Interest Down 21.9% in November

Turnstone Biologics Corp. (NASDAQ:TSBX) was the recipient of a significant decline in short interest during the month of November. As of November 30th, there was short interest totalling 548,700 shares, a decline of 21.9% from the November 15th total of 702,900 shares. Based on an average daily volume of 271,500 shares, the short-interest ratio is currently 2.0 days. Currently, 4.0% of the shares of the company are short sold.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Piper Sandler reduced their target price on shares of Turnstone Biologics from $20.00 to $3.75 and set an “overweight” rating for the company in a report on Monday, August 19th. Bank of America cut Turnstone Biologics from a “neutral” rating to an “underperform” rating in a report on Friday, November 15th.

Turnstone Biologics Price Performance

TSBX stock remained flat at $0.48 during trading hours on Friday. The company’s stock had a trading volume of 42,458 shares, compared to its average volume of 220,511. Turnstone Biologics has a 1 year low of $0.40 and a 1 year high of $5.75. The firm has a market cap of $11.10 million, a price-to-earnings ratio of -0.15 and a beta of 2.44. The firm has a 50 day moving average price of $0.50 and a 200-day moving average price of $1.35.

Turnstone Biologics (NASDAQ:TSBX) last released 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 anticipate that Turnstone Biologics will post -3.75 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Turnstone Biologics stock. FMR LLC increased its stake in shares of Turnstone Biologics Corp. (NASDAQ:TSBX) by 3.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,172,987 shares of the company’s stock after buying an additional 37,738 shares during the quarter. FMR LLC owned about 5.07% of Turnstone Biologics worth $653,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 52.51% of the company’s stock.

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.