Turnstone Biologics (NASDAQ:TSBX) Stock Rating Lowered by Piper Sandler

Turnstone Biologics (NASDAQ:TSBX) was downgraded by equities research analysts at Piper Sandler from an “overweight” rating to a “neutral” rating in a research note issued to investors on Wednesday, Marketbeat reports. They currently have a $0.40 price objective on the stock, down from their previous price objective of $3.75. Piper Sandler’s price target would indicate a potential downside of 16.35% from the company’s previous close.

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

Turnstone Biologics Price Performance

Turnstone Biologics stock opened at $0.48 on Wednesday. The firm has a 50-day moving average of $0.48 and a 200-day moving average of $0.77. Turnstone Biologics has a one year low of $0.40 and a one year high of $5.75. The company has a market cap of $11.06 million, a price-to-earnings ratio of -0.15 and a beta of 2.12.

Turnstone Biologics (NASDAQ:TSBX) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.74) EPS for the quarter, topping analysts’ consensus estimates of ($0.87) by $0.13. As a group, sell-side analysts expect that Turnstone Biologics will post -3.38 earnings per share for the current year.

Institutional Inflows and Outflows

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