Piper Sandler Trims Turnstone Biologics (NASDAQ:TSBX) Target Price to $3.75

Turnstone Biologics (NASDAQ:TSBX) had its price objective trimmed by Piper Sandler from $20.00 to $3.75 in a report issued on Monday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

Separately, Bank of America lowered their target price on shares of Turnstone Biologics from $12.00 to $10.00 and set a buy rating on the stock in a research note on Monday.

Turnstone Biologics Stock Up 2.1 %

TSBX stock opened at $0.79 on Monday. The business’s 50-day moving average price is $2.32 and its 200-day moving average price is $2.74. The stock has a market cap of $18.29 million and a P/E ratio of -0.08. Turnstone Biologics has a twelve month low of $0.73 and a twelve month high of $12.16.

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 the consensus estimate of ($0.84) by ($0.08). On average, equities research analysts expect that Turnstone Biologics will post -3.44 earnings per share for the current fiscal year.

Institutional Trading of Turnstone Biologics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sei Investments Co. purchased a new stake in Turnstone Biologics during the 2nd quarter valued at approximately $31,000. Zimmer Partners LP boosted its position in shares of Turnstone Biologics by 271.4% during the first quarter. Zimmer Partners LP now owns 179,026 shares of the company’s stock worth $469,000 after acquiring an additional 130,826 shares during the last quarter. Finally, Kathleen S. Wright Associates Inc. bought a new position in shares of Turnstone Biologics during the first quarter worth $111,000. Institutional investors 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.