Bank of America Trims Turnstone Biologics (NASDAQ:TSBX) Target Price to $10.00

Turnstone Biologics (NASDAQ:TSBX) had its target price reduced by Bank of America from $12.00 to $10.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock.

Turnstone Biologics Trading Up 2.7 %

TSBX stock traded up $0.02 during midday trading on Monday, hitting $0.78. 405,815 shares of the company’s stock were exchanged, compared to its average volume of 197,891. Turnstone Biologics has a 12-month low of $0.73 and a 12-month high of $12.16. The firm has a 50 day moving average price of $2.44 and a 200-day moving average price of $2.78. The stock has a market capitalization of $18.09 million and a price-to-earnings ratio of -0.08.

Turnstone Biologics (NASDAQ:TSBX) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.92) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.08). On average, sell-side analysts forecast that Turnstone Biologics will post -3.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sei Investments Co. acquired a new position in Turnstone Biologics during the 2nd quarter valued at approximately $31,000. Zimmer Partners LP boosted its position in Turnstone Biologics by 271.4% during the 1st quarter. Zimmer Partners LP now owns 179,026 shares of the company’s stock valued at $469,000 after purchasing an additional 130,826 shares during the period. Finally, Kathleen S. Wright Associates Inc. acquired a new position in Turnstone Biologics during the 1st quarter valued at approximately $111,000. 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.