Turnstone Biologics (NASDAQ:TSBX) Lowered to Neutral at Bank of America

Bank of America cut shares of Turnstone Biologics (NASDAQ:TSBX) from a buy rating to a neutral rating in a report published on Monday, Marketbeat reports. Bank of America currently has $0.50 target price on the stock, down from their prior target price of $10.00.

Separately, Piper Sandler cut their price objective 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 1.1 %

Shares of Turnstone Biologics stock opened at $0.46 on Monday. The firm has a market capitalization of $10.56 million, a PE ratio of -0.13 and a beta of 2.26. Turnstone Biologics has a twelve month low of $0.44 and a twelve month high of $5.75. The firm’s 50-day moving average price is $0.86 and its 200 day moving average price is $2.07.

Turnstone Biologics (NASDAQ:TSBX) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.92) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.08). On average, sell-side analysts predict that Turnstone Biologics will post -3.9 EPS for the current fiscal year.

Institutional Trading of Turnstone Biologics

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Zimmer Partners LP increased its holdings in shares of Turnstone Biologics by 271.4% during the 1st quarter. Zimmer Partners LP now owns 179,026 shares of the company’s stock worth $469,000 after buying an additional 130,826 shares during the last quarter. Kathleen S. Wright Associates Inc. acquired a new stake in shares of Turnstone Biologics during the 1st quarter worth approximately $111,000. Finally, Sei Investments Co. acquired a new stake in shares of Turnstone Biologics during the 2nd quarter worth approximately $31,000. Institutional investors and hedge funds 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.