Turn Therapeutics Inc. (NASDAQ:TTRX) Short Interest Down 51.9% in June

Turn Therapeutics Inc. (NASDAQ:TTRX) saw a large drop in short interest in the month of June. As of June 15th, there was short interest totaling 30,684 shares, a drop of 51.9% from the May 31st total of 63,729 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average daily trading volume, of 72,651 shares, the short-interest ratio is presently 0.4 days.

Turn Therapeutics Stock Down 6.2%

Turn Therapeutics stock opened at $6.85 on Thursday. The firm has a market capitalization of $204.06 million and a price-to-earnings ratio of -36.05. The firm’s fifty day moving average price is $5.09 and its two-hundred day moving average price is $4.19. Turn Therapeutics has a 1-year low of $2.57 and a 1-year high of $26.50. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.97.

Turn Therapeutics (NASDAQ:TTRX) last announced its earnings results on Monday, May 11th. The company reported ($0.03) earnings per share (EPS) for the quarter.

Institutional Trading of Turn Therapeutics

Several institutional investors have recently made changes to their positions in the company. Hodges Capital Management Inc. purchased a new stake in shares of Turn Therapeutics in the fourth quarter valued at about $39,000. LPL Financial LLC purchased a new position in Turn Therapeutics during the fourth quarter worth about $51,000. Tamar Securities LLC bought a new stake in Turn Therapeutics in the 4th quarter worth about $59,000. Composition Wealth LLC bought a new stake in Turn Therapeutics in the 4th quarter worth about $63,000. Finally, Jane Street Group LLC purchased a new stake in Turn Therapeutics in the 4th quarter valued at about $68,000.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on TTRX shares. Weiss Ratings reaffirmed a “sell (e)” rating on shares of Turn Therapeutics in a research note on Monday. D. Boral Capital restated a “buy” rating and set a $8.00 price objective on shares of Turn Therapeutics in a report on Tuesday, March 24th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $8.00.

Turn Therapeutics Company Profile

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.