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

Bank of America cut shares of Turnstone Biologics (NASDAQ:TSBX) from a neutral rating to an underperform rating in a report published on Friday morning, MarketBeat Ratings reports.

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

Turnstone Biologics Stock Down 4.1 %

NASDAQ:TSBX opened at $0.47 on Friday. Turnstone Biologics has a twelve month low of $0.44 and a twelve month high of $5.75. The stock’s 50 day moving average price is $0.54 and its two-hundred day moving average price is $1.64. The firm has a market capitalization of $10.87 million, a price-to-earnings ratio of -0.15 and a beta of 2.21.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC boosted its stake in Turnstone Biologics by 3.3% in 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. Zimmer Partners LP boosted its stake 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 purchasing an additional 130,826 shares during the period. Finally, Sei Investments Co. bought a new stake in Turnstone Biologics in the 2nd quarter valued at $31,000. 52.51% of the stock is currently owned by institutional investors.

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.