Turnstone Biologics (NASDAQ:TSBX) Cut to “Neutral” at Piper Sandler

Turnstone Biologics (NASDAQ:TSBX) was downgraded by equities researchers at Piper Sandler from an “overweight” rating to a “neutral” rating in a research note issued to investors on Wednesday,Finviz reports. They presently have a $0.40 price objective on the stock, down from their prior price objective of $3.75. Piper Sandler’s price target would suggest a potential downside of 12.03% from the stock’s previous close.

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

Turnstone Biologics Stock Performance

Shares of TSBX opened at $0.45 on Wednesday. The company has a 50 day moving average price of $0.48 and a 200-day moving average price of $0.77. Turnstone Biologics has a fifty-two week low of $0.40 and a fifty-two week high of $5.75. The stock has a market capitalization of $10.52 million, a PE ratio of -0.14 and a beta of 2.12.

Turnstone Biologics (NASDAQ:TSBX) last posted its earnings results on Tuesday, November 12th. The company reported ($0.74) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.87) by $0.13. Equities research analysts forecast that Turnstone Biologics will post -3.38 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Turnstone Biologics stock. Sei Investments Co. bought a new stake in Turnstone Biologics Corp. (NASDAQ:TSBX) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 11,882 shares of the company’s stock, valued at approximately $31,000. Sei Investments Co. owned 0.05% of Turnstone Biologics at the end of the most recent reporting period. 52.51% of the stock is owned by institutional investors.

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.