Turnstone Biologics (NASDAQ:TSBX) Stock Price Down 9.1% – Time to Sell?

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

Wall Street Analysts Forecast Growth

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

Turnstone Biologics Price Performance

The business has a 50 day simple moving average of $0.50 and a 200 day simple moving average of $1.06. The company has a market capitalization of $11.82 million, a price-to-earnings ratio of -0.16 and a beta of 2.14.

Turnstone Biologics (NASDAQ:TSBX) last posted its earnings results on Tuesday, November 12th. The company reported ($0.74) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.87) by $0.13. On average, equities research analysts predict that Turnstone Biologics Corp. will post -3.75 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Turnstone Biologics stock. Sei Investments Co. purchased a new stake in Turnstone Biologics Corp. (NASDAQ:TSBX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 11,882 shares of the company’s stock, valued at approximately $31,000. Sei Investments Co. owned 0.05% of Turnstone Biologics as of its most recent SEC filing. Institutional investors 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.