Turnstone Biologics (NASDAQ:TSBX) Lowered to Underperform Rating by Bank of America

Bank of America lowered shares of Turnstone Biologics (NASDAQ:TSBX) from a neutral rating to an underperform rating in a research note released on Friday morning, Marketbeat Ratings reports.

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

Turnstone Biologics Stock Performance

NASDAQ TSBX traded down $0.04 on Friday, reaching $0.49. The company’s stock had a trading volume of 142,833 shares, compared to its average volume of 230,237. Turnstone Biologics has a twelve month low of $0.44 and a twelve month high of $5.75. The firm’s 50 day moving average is $0.54 and its two-hundred day moving average is $1.67. The stock has a market cap of $11.34 million, a PE ratio of -0.15 and a beta of 2.21.

Turnstone Biologics (NASDAQ:TSBX) last announced its earnings results on Tuesday, November 12th. The company reported ($0.74) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.87) by $0.13. Equities research analysts anticipate that Turnstone Biologics will post -3.85 EPS for the current fiscal year.

Hedge Funds Weigh In On Turnstone Biologics

Hedge funds and other institutional investors have recently modified their holdings of the business. Zimmer Partners LP boosted its holdings in shares of Turnstone Biologics by 271.4% in the 1st quarter. Zimmer Partners LP now owns 179,026 shares of the company’s stock worth $469,000 after purchasing an additional 130,826 shares in the last quarter. FMR LLC raised its stake in Turnstone Biologics by 3.3% during the 3rd quarter. FMR LLC now owns 1,172,987 shares of the company’s stock valued at $653,000 after purchasing an additional 37,738 shares during the period. Finally, Sei Investments Co. bought a new position in Turnstone Biologics during the second quarter valued at $31,000. Hedge funds and other 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.