Turn Therapeutics Inc. (NASDAQ:TTRX) Short Interest Update

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

Institutional Trading of Turn Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the company. Millennium Management LLC purchased a new stake in Turn Therapeutics in the fourth quarter worth about $377,000. Wellington Shields & Co. LLC bought a new stake in shares of Turn Therapeutics in the 4th quarter valued at about $259,000. XTX Topco Ltd purchased a new stake in shares of Turn Therapeutics in the 4th quarter worth approximately $99,000. Brown Brothers Harriman & Co. purchased a new stake in shares of Turn Therapeutics in the 4th quarter worth approximately $93,000. Finally, HighTower Advisors LLC bought a new position in shares of Turn Therapeutics during the fourth quarter valued at approximately $78,000.

Turn Therapeutics Trading Down 1.0%

Shares of NASDAQ TTRX traded down $0.07 during trading hours on Wednesday, reaching $7.22. The stock had a trading volume of 13,108 shares, compared to its average volume of 36,855. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.97. The firm has a market cap of $215.23 million and a price-to-earnings ratio of -37.99. The business’s fifty day moving average price is $5.02 and its two-hundred day moving average price is $4.17. Turn Therapeutics has a 52-week low of $2.57 and a 52-week high of $26.50.

Turn Therapeutics (NASDAQ:TTRX) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.03) EPS for the quarter.

Analysts Set New Price Targets

TTRX has been the topic of several research analyst reports. D. Boral Capital reaffirmed a “buy” rating and issued a $8.00 price objective on shares of Turn Therapeutics in a research report on Tuesday, March 24th. Weiss Ratings reissued a “sell (e)” rating on shares of Turn Therapeutics in a research note on Monday. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price 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.