Turnstone Biologics Corp. (NASDAQ:TSBX) Sees Significant Decrease in Short Interest

Turnstone Biologics Corp. (NASDAQ:TSBX) saw a large decrease in short interest during the month of 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. Based on an average trading volume of 200,100 shares, the days-to-cover ratio is currently 1.5 days. Currently, 1.8% of the shares of the stock are short sold.

Turnstone Biologics Price Performance

NASDAQ TSBX traded down $0.02 on Monday, hitting $0.37. 126,858 shares of the company were exchanged, compared to its average volume of 267,433. Turnstone Biologics has a twelve month low of $0.35 and a twelve month high of $4.81. The firm has a market capitalization of $8.44 million, a P/E ratio of -0.11 and a beta of 2.12. The company’s 50 day moving average price is $0.45 and its 200-day moving average price is $0.52.

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 position in Turnstone Biologics Corp. (NASDAQ:TSBX) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 895,824 shares of the company’s stock, valued at approximately $448,000. Turnstone Biologics makes up about 1.7% of Takeda Pharmaceutical Co. Ltd.’s investment portfolio, making the stock its 8th biggest holding. Takeda Pharmaceutical Co. Ltd. owned 3.87% of Turnstone Biologics as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 52.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TSBX. Bank of America downgraded shares of 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 research report on Wednesday, February 5th.

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.