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

Turnstone Biologics Corp. (NASDAQ:TSBX) saw a significant decrease in short interest in July. As of July 15th, there was short interest totalling 144,700 shares, a decrease of 72.1% from the June 30th total of 519,200 shares. Approximately 1.1% of the company’s shares are short sold. Based on an average trading volume of 137,500 shares, the days-to-cover ratio is presently 1.1 days.

Turnstone Biologics Price Performance

Shares of TSBX traded up $0.04 during midday trading on Friday, hitting $2.55. The stock had a trading volume of 22,032 shares, compared to its average volume of 139,923. The company has a 50 day simple moving average of $2.62 and a two-hundred day simple moving average of $2.80. Turnstone Biologics has a twelve month low of $1.63 and a twelve month high of $13.20. The firm has a market cap of $58.98 million and a price-to-earnings ratio of -0.25.

Turnstone Biologics (NASDAQ:TSBX) last released its earnings results on Monday, May 13th. The company reported ($0.85) earnings per share for the quarter, missing the consensus estimate of ($0.78) by ($0.07). Analysts forecast that Turnstone Biologics will post -3.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Zimmer Partners LP increased its position in Turnstone Biologics by 271.4% during the first quarter. Zimmer Partners LP now owns 179,026 shares of the company’s stock worth $469,000 after buying an additional 130,826 shares during the last quarter. Kathleen S. Wright Associates Inc. bought a new position in shares of Turnstone Biologics during the 1st quarter worth approximately $111,000. Finally, Citigroup Inc. bought a new position in shares of Turnstone Biologics during the 3rd quarter worth approximately $30,000. 52.51% of the stock is currently owned by institutional investors and hedge funds.

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.