Turnstone Biologics (NASDAQ:TSBX) Releases Earnings Results

Turnstone Biologics (NASDAQ:TSBX) posted its earnings results on Tuesday. The company reported ($0.74) EPS for the quarter, topping the consensus estimate of ($0.87) by $0.13, Zacks reports.

Turnstone Biologics Price Performance

Shares of NASDAQ TSBX traded down $0.05 during midday trading on Wednesday, hitting $0.53. The stock had a trading volume of 89,367 shares, compared to its average volume of 231,012. The company’s 50-day simple moving average is $0.55 and its 200 day simple moving average is $1.70. The firm has a market cap of $12.21 million, a P/E ratio of -0.16 and a beta of 2.21. Turnstone Biologics has a fifty-two week low of $0.44 and a fifty-two week high of $5.75.

Analysts Set New Price Targets

Several equities analysts recently commented on TSBX shares. Bank of America downgraded Turnstone Biologics from a “buy” rating to a “neutral” rating and cut their target price for the stock from $10.00 to $0.50 in a research report on Monday, October 14th. Piper Sandler dropped their price target on 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 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.