Turnstone Biologics Corp. (NASDAQ:TSBX) Sees Large Drop in Short Interest

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

Analyst Ratings Changes

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

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Turnstone Biologics stock. FMR LLC increased its stake in shares of Turnstone Biologics Corp. (NASDAQ:TSBX) by 3.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,172,987 shares of the company’s stock after purchasing an additional 37,738 shares during the quarter. FMR LLC owned 5.07% of Turnstone Biologics worth $653,000 at the end of the most recent quarter. Institutional investors own 52.51% of the company’s stock.

Turnstone Biologics Price Performance

TSBX opened at $0.36 on Tuesday. Turnstone Biologics has a 12 month low of $0.35 and a 12 month high of $4.81. The stock has a market capitalization of $8.21 million, a price-to-earnings ratio of -0.11 and a beta of 2.12. The business has a fifty day moving average price of $0.45 and a 200 day moving average price of $0.52.

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.