Turnstone Biologics (NASDAQ:TSBX) Rating Lowered to “Underperform” at Bank of America

Bank of America cut shares of Turnstone Biologics (NASDAQ:TSBX) from a neutral rating to an underperform rating in a report issued on Friday, Marketbeat.com reports.

Separately, Piper Sandler dropped their target price on shares of Turnstone Biologics from $20.00 to $3.75 and set an “overweight” rating for the company in a research report on Monday, August 19th.

Turnstone Biologics Trading Down 7.1 %

NASDAQ:TSBX opened at $0.49 on Friday. Turnstone Biologics has a 1 year low of $0.44 and a 1 year high of $5.75. The firm’s fifty day simple moving average is $0.54 and its 200 day simple moving average is $1.66. The firm has a market capitalization of $11.34 million, a PE ratio of -0.15 and a beta of 2.21.

Turnstone Biologics (NASDAQ:TSBX) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.74) EPS for the quarter, topping analysts’ consensus estimates of ($0.87) by $0.13. As a group, analysts anticipate that Turnstone Biologics will post -3.79 EPS for the current fiscal year.

Institutional Investors Weigh In On Turnstone Biologics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Zimmer Partners LP increased its position in Turnstone Biologics by 271.4% in the 1st quarter. Zimmer Partners LP now owns 179,026 shares of the company’s stock valued at $469,000 after acquiring an additional 130,826 shares in the last quarter. FMR LLC grew its position in shares of Turnstone Biologics by 3.3% during the 3rd quarter. FMR LLC now owns 1,172,987 shares of the company’s stock worth $653,000 after buying an additional 37,738 shares during the period. Finally, Sei Investments Co. acquired a new stake in shares of Turnstone Biologics during the 2nd quarter worth approximately $31,000. Institutional investors and hedge funds own 52.51% of the company’s stock.

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.