Turnstone Biologics (NASDAQ:TSBX) Rating Lowered to “Underperform” at Bank of America

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

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

Turnstone Biologics Price Performance

NASDAQ:TSBX opened at $0.49 on Friday. The business’s fifty day moving average price is $0.54 and its 200 day moving average price is $1.66. Turnstone Biologics has a 1-year low of $0.44 and a 1-year high of $5.75.

Turnstone Biologics (NASDAQ:TSBX) last issued its earnings results on Tuesday, November 12th. The company reported ($0.74) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.87) by $0.13. Analysts predict that Turnstone Biologics will post -3.79 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Sei Investments Co. bought a new position in Turnstone Biologics during the second quarter valued at about $31,000. 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 valued at $469,000 after acquiring an additional 130,826 shares during the last quarter. Finally, FMR LLC raised its stake in shares of Turnstone Biologics by 3.3% in the 3rd quarter. FMR LLC now owns 1,172,987 shares of the company’s stock valued at $653,000 after acquiring an additional 37,738 shares in the last quarter. 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.