Turnstone Biologics (NASDAQ:TSBX) Downgraded to Neutral Rating by Piper Sandler

Piper Sandler lowered shares of Turnstone Biologics (NASDAQ:TSBX) from an overweight rating to a neutral rating in a research note published on Wednesday, Marketbeat.com reports. Piper Sandler currently has $0.40 price target on the stock, down from their previous price target of $3.75.

Separately, Bank of America cut Turnstone Biologics from a “neutral” rating to an “underperform” rating in a research note on Friday, November 15th.

Turnstone Biologics Trading Up 8.1 %

NASDAQ:TSBX opened at $0.49 on Wednesday. The business’s fifty day moving average is $0.48 and its 200 day moving average is $0.77. Turnstone Biologics has a 52-week low of $0.40 and a 52-week high of $5.75.

Turnstone Biologics (NASDAQ:TSBX) last released 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. Research analysts forecast that Turnstone Biologics will post -3.38 earnings per share for the current year.

Institutional Investors Weigh In On Turnstone Biologics

A hedge fund recently raised its stake in Turnstone Biologics stock. FMR LLC lifted its stake in Turnstone Biologics Corp. (NASDAQ:TSBX) by 3.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,172,987 shares of the company’s stock after purchasing an additional 37,738 shares during the quarter. FMR LLC owned about 5.07% of Turnstone Biologics worth $653,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other 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.