Bank of America Downgrades Turnstone Biologics (NASDAQ:TSBX) to Underperform

Turnstone Biologics (NASDAQ:TSBX) was downgraded by equities research analysts at Bank of America from a “neutral” rating to an “underperform” rating in a research note issued on Friday, Marketbeat.com reports.

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

Turnstone Biologics Trading Down 7.1 %

Turnstone Biologics stock opened at $0.49 on Friday. The business’s 50-day simple moving average is $0.54 and its 200-day simple moving average is $1.66. Turnstone Biologics has a 52 week low of $0.44 and a 52 week high of $5.75.

Turnstone Biologics (NASDAQ:TSBX) last issued 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. As a group, research analysts predict that Turnstone Biologics will post -3.79 earnings per share for the current year.

Institutional Trading of Turnstone Biologics

A number of hedge funds have recently modified their holdings of the company. Zimmer Partners LP increased its position in shares of Turnstone Biologics by 271.4% during the first 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. FMR LLC boosted its stake in Turnstone Biologics by 3.3% during the third quarter. FMR LLC now owns 1,172,987 shares of the company’s stock worth $653,000 after buying an additional 37,738 shares in the last quarter. Finally, Sei Investments Co. bought a new stake in Turnstone Biologics in the 2nd quarter valued at $31,000. 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.