Turn Therapeutics Inc. (NASDAQ:TTRX) Stock Short Interest Report for September

Turn Therapeutics Inc. (NASDAQ:TTRX) was the recipient of a large increase in short interest in the month of September. As of September 30th, there was short interest totaling 268,757 shares, an increase of 74.1% from the September 15th total of 154,372 shares. Approximately 0.9% of the company’s stock are sold short. Based on an average trading volume of 201,829 shares, the days-to-cover ratio is presently 1.3 days.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Weiss Ratings downgraded shares of Turn Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, August 18th. WBB Securities reissued a “sell” rating and set a $10.00 target price on shares of Turn Therapeutics in a research report on Monday, September 14th. Lucid Cap Mkts raised shares of Turn Therapeutics to a “strong-buy” rating in a research report on Thursday, September 24th. Wall Street Zen upgraded shares of Turn Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, October 10th. Finally, Zacks Research raised shares of Turn Therapeutics to a “hold” rating in a report on Tuesday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Turn Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $9.00.

Turn Therapeutics Stock Up 6.3%

Shares of Turn Therapeutics stock traded up $0.70 during trading hours on Thursday, hitting $11.81. 20,492 shares of the company’s stock traded hands, compared to its average volume of 66,400. The stock has a 50 day simple moving average of $11.56 and a 200-day simple moving average of $7.82. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 8.83. The company has a market cap of $351.97 million and a PE ratio of -40.72. Turn Therapeutics has a twelve month low of $2.57 and a twelve month high of $16.45.

Turn Therapeutics (NASDAQ:TTRX) last announced its earnings results on Wednesday, August 12th. The company reported ($0.20) earnings per share (EPS) for the quarter. Equities research analysts anticipate that Turn Therapeutics will post -0.40 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Turn Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Ieq Capital LLC acquired a new position in shares of Turn Therapeutics in the 2nd quarter valued at approximately $1,660,000. Jefferies Financial Group Inc. purchased a new position in shares of Turn Therapeutics during the 2nd quarter valued at approximately $119,000. Bank of America Corp DE purchased a new position in shares of Turn Therapeutics during the 2nd quarter valued at approximately $103,000. BlackRock Inc. acquired a new stake in shares of Turn Therapeutics during the second quarter worth approximately $282,000. Finally, Bridgewater Advisors Inc. acquired a new stake in shares of Turn Therapeutics during the second quarter worth approximately $242,000.

About Turn Therapeutics

We are a pharmaceutical and medical device development company built around a proprietary platform technology designed to enhance drug performance. Our patented mixing process — commercially referred to as PermaFusion™ (“PermaFusion”) — enables stable suspension of polar, water-soluble active pharmaceutical ingredients (“APIs”) in oil-based carriers without the use of emulsifiers. This innovation reduces the quantity of required API inclusion by improving its bioavailability. Reduced API load reduces the likelihood of adverse events.