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

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

Separately, Piper Sandler dropped their price target on 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 Price Performance

NASDAQ TSBX opened at $0.47 on Friday. The firm has a market cap of $10.87 million, a P/E ratio of -0.15 and a beta of 2.21. The stock’s 50-day moving average is $0.54 and its 200-day moving average is $1.64. Turnstone Biologics has a one year low of $0.44 and a one year high of $5.75.

Turnstone Biologics (NASDAQ:TSBX) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.74) EPS for the quarter, topping analysts’ consensus estimates of ($0.87) by $0.13. Equities analysts anticipate that Turnstone Biologics will post -3.79 EPS for the current year.

Institutional Investors Weigh In On Turnstone Biologics

A number of hedge funds and other institutional investors have recently bought and sold shares of TSBX. Zimmer Partners LP raised its position 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 buying an additional 130,826 shares during the last quarter. FMR LLC raised its position 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 buying an additional 37,738 shares during the last quarter. Finally, Sei Investments Co. acquired a new stake in Turnstone Biologics in the 2nd quarter valued at approximately $31,000. Institutional investors and hedge funds own 52.51% of the company’s stock.

Turnstone Biologics Company Profile

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.