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

Turnstone Biologics Corp. (NASDAQ:TSBX) was the recipient of a significant decline in short interest during the month of May. As of May 15th, there was short interest totalling 306,400 shares, a decline of 12.4% from the April 30th total of 349,800 shares. Currently, 1.8% of the company’s stock are short sold. Based on an average daily volume of 108,600 shares, the days-to-cover ratio is presently 2.8 days.

Turnstone Biologics Stock Up 1.1%

TSBX stock opened at $0.35 on Friday. The business has a 50 day moving average price of $0.35 and a 200 day moving average price of $0.41. The stock has a market cap of $8.11 million, a price-to-earnings ratio of -0.11 and a beta of 1.18. Turnstone Biologics has a fifty-two week low of $0.29 and a fifty-two week high of $3.05.

Turnstone Biologics (NASDAQ:TSBX) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.51) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.25). As a group, sell-side analysts anticipate that Turnstone Biologics will post -3.32 EPS for the current year.

Institutional Investors Weigh In On Turnstone Biologics

A hedge fund recently bought a new stake in Turnstone Biologics stock. BML Capital Management LLC acquired a new stake in Turnstone Biologics Corp. (NASDAQ:TSBX) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 1,103,386 shares of the company’s stock, valued at approximately $452,000. Turnstone Biologics comprises 0.3% of BML Capital Management LLC’s holdings, making the stock its 22nd biggest position. BML Capital Management LLC owned approximately 4.77% of Turnstone Biologics as of its most recent filing with the Securities and Exchange Commission (SEC). 52.51% of the stock is owned by institutional investors.

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.