Turn Therapeutics Inc. (NASDAQ:TTRX) Shares Shorted: Short Interest Up 74.1% in September

Turn Therapeutics Inc. (NASDAQ:TTRX) saw a significant increase in short interest during 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. Based on an average daily trading volume, of 201,829 shares, the days-to-cover ratio is currently 1.3 days. Currently, 0.9% of the shares of the company are short sold.

Turn Therapeutics Stock Performance

Shares of TTRX stock traded down $1.02 during trading hours on Friday, reaching $10.57. 105,614 shares of the company’s stock were exchanged, compared to its average volume of 66,903. The company has a debt-to-equity ratio of 8.83, a current ratio of 1.19 and a quick ratio of 1.19. The company’s 50 day moving average is $11.60 and its two-hundred day moving average is $7.88. The company has a market cap of $314.86 million and a P/E ratio of -36.45. Turn Therapeutics has a 1 year low of $2.57 and a 1 year high of $16.45.

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

Institutional Investors Weigh In On Turn Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Ieq Capital LLC acquired a new stake in shares of Turn Therapeutics in the 2nd quarter worth approximately $1,660,000. DDFG Inc boosted its position in Turn Therapeutics by 34.9% during the first quarter. DDFG Inc now owns 70,534 shares of the company’s stock worth $226,000 after purchasing an additional 18,246 shares in the last quarter. BlackRock Inc. purchased a new stake in Turn Therapeutics during the second quarter worth $282,000. Bridgewater Advisors Inc. acquired a new stake in Turn Therapeutics in the second quarter valued at $242,000. Finally, Jefferies Financial Group Inc. acquired a new stake in Turn Therapeutics in the second quarter valued at $119,000.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Wall Street Zen raised shares of Turn Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, October 10th. Zacks Research upgraded shares of Turn Therapeutics to a “hold” rating in a research note on Tuesday, July 21st. WBB Securities reiterated a “sell” rating and issued a $10.00 price objective 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 note on Thursday, September 24th. Finally, LADENBURG THALM/SH SH upgraded shares of Turn Therapeutics to a “strong-buy” rating in a research report on Monday, July 20th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $9.00.

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.