Turnstone Biologics (NASDAQ:TSBX) Posts Earnings Results

Turnstone Biologics (NASDAQ:TSBX) announced 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 Stock Down 8.7 %

Shares of TSBX stock traded down $0.05 during trading hours on Wednesday, reaching $0.53. The company’s stock had a trading volume of 88,763 shares, compared to its average volume of 231,012. Turnstone Biologics has a fifty-two week low of $0.44 and a fifty-two week high of $5.75. The company has a market capitalization of $12.23 million, a price-to-earnings ratio of -0.16 and a beta of 2.21. The firm’s 50 day simple moving average is $0.55 and its 200-day simple moving average is $1.70.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Bank of America downgraded Turnstone Biologics from a “buy” rating to a “neutral” rating and cut their target price for the company from $10.00 to $0.50 in a research report on Monday, October 14th. Piper Sandler reduced their price objective on shares of Turnstone Biologics from $20.00 to $3.75 and set an “overweight” rating on the stock in a research note on Monday, August 19th.

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.