Turnstone Biologics (NASDAQ:TSBX) Stock Price Down 9.1% – What’s Next?

Turnstone Biologics Corp. (NASDAQ:TSBX) was down 9.1% on Wednesday . The stock traded as low as $0.48 and last traded at $0.51. Approximately 121,559 shares changed hands during trading, a decline of 61% from the average daily volume of 311,331 shares. The stock had previously closed at $0.56.

Wall Street Analyst Weigh In

Separately, Bank of America lowered Turnstone Biologics from a “neutral” rating to an “underperform” rating in a research report on Friday, November 15th.

Turnstone Biologics Trading Down 9.1 %

The firm has a market capitalization of $11.82 million, a price-to-earnings ratio of -0.16 and a beta of 2.14. The stock’s fifty day moving average price is $0.50 and its two-hundred day moving average price is $1.06.

Turnstone Biologics (NASDAQ:TSBX) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.74) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.87) by $0.13. Analysts anticipate that Turnstone Biologics Corp. will post -3.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Turnstone Biologics

A hedge fund recently raised its stake in Turnstone Biologics stock. FMR LLC lifted its stake in shares of Turnstone Biologics Corp. (NASDAQ:TSBX) by 3.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,172,987 shares of the company’s stock after buying an additional 37,738 shares during the quarter. FMR LLC owned about 5.07% of Turnstone Biologics worth $653,000 at the end of the most recent reporting period. 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.