Turnstone Biologics (NASDAQ:TSBX) Releases Quarterly Earnings Results, Beats Estimates By $0.13 EPS

Turnstone Biologics (NASDAQ:TSBX) issued its earnings results on Tuesday. The company reported ($0.74) earnings per share for the quarter, topping the consensus estimate of ($0.87) by $0.13, Zacks reports.

Turnstone Biologics Price Performance

Shares of Turnstone Biologics stock traded down $0.01 on Thursday, reaching $0.53. 96,429 shares of the company were exchanged, compared to its average volume of 230,605. The company has a market cap of $12.21 million, a P/E ratio of -0.16 and a beta of 2.21. The stock’s 50 day moving average price is $0.54 and its 200-day moving average price is $1.69. Turnstone Biologics has a 1-year low of $0.44 and a 1-year high of $5.75.

Analyst Ratings Changes

Several research firms recently issued reports on TSBX. 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 research report on Monday, August 19th. Bank of America lowered Turnstone Biologics from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $10.00 to $0.50 in a research note on Monday, October 14th.

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.