Turnstone Biologics Corp. (NASDAQ:TSBX) Short Interest Update

Turnstone Biologics Corp. (NASDAQ:TSBX) saw a large increase in short interest during the month of 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. Based on an average daily trading volume, of 206,100 shares, the short-interest ratio is currently 1.9 days. Currently, 2.3% of the company’s stock are short sold.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Turnstone Biologics

An institutional investor recently bought a new position in Turnstone Biologics stock. Takeda Pharmaceutical Co. Ltd. purchased a new stake in Turnstone Biologics Corp. (NASDAQ:TSBX) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 895,824 shares of the company’s stock, valued at approximately $448,000. Turnstone Biologics accounts for 1.7% of Takeda Pharmaceutical Co. Ltd.’s investment portfolio, making the stock its 8th biggest holding. Takeda Pharmaceutical Co. Ltd. owned about 3.87% of Turnstone Biologics as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 52.51% of the company’s stock.

Turnstone Biologics Stock Up 0.2 %

Shares of NASDAQ TSBX opened at $0.37 on Monday. The firm’s 50-day moving average price is $0.43 and its two-hundred day moving average price is $0.49. Turnstone Biologics has a 52-week low of $0.34 and a 52-week high of $3.88. The stock has a market capitalization of $8.60 million, a P/E ratio of -0.11 and a beta of 2.04.

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.