Short Interest in Turnstone Biologics Corp. (NASDAQ:TSBX) Drops By 36.5%

Turnstone Biologics Corp. (NASDAQ:TSBX) was the recipient of a significant decrease in short interest in February. As of February 15th, there was short interest totalling 306,500 shares, a decrease of 36.5% from the January 31st total of 482,900 shares. Approximately 1.8% of the company’s stock are sold short. Based on an average daily volume of 200,100 shares, the days-to-cover ratio is presently 1.5 days.

Institutional Trading of Turnstone Biologics

An institutional investor recently bought a new position in Turnstone Biologics stock. Takeda Pharmaceutical Co. Ltd. purchased a new position in Turnstone Biologics Corp. (NASDAQ:TSBX) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 895,824 shares of the company’s stock, valued at approximately $448,000. Turnstone Biologics comprises approximately 1.7% of Takeda Pharmaceutical Co. Ltd.’s holdings, making the stock its 8th largest position. Takeda Pharmaceutical Co. Ltd. owned 3.87% of Turnstone Biologics at the end of the most recent reporting period. Institutional investors and hedge funds own 52.51% of the company’s stock.

Turnstone Biologics Stock Performance

NASDAQ:TSBX opened at $0.39 on Friday. The stock has a fifty day moving average price of $0.45 and a two-hundred day moving average price of $0.53. The stock has a market capitalization of $8.92 million, a price-to-earnings ratio of -0.12 and a beta of 2.12. Turnstone Biologics has a 1 year low of $0.37 and a 1 year high of $4.97.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Bank of America cut Turnstone Biologics from a “neutral” rating to an “underperform” rating in a research report on Friday, November 15th. Piper Sandler cut Turnstone Biologics from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $3.75 to $0.40 in a research report on Wednesday, February 5th.

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.