Turnstone Biologics (NASDAQ:TSBX) Trading Up 1.5% – Here’s Why

Turnstone Biologics Corp. (NASDAQ:TSBX)’s share price was up 1.5% on Friday . The company traded as high as $0.40 and last traded at $0.39. Approximately 18,038 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 271,645 shares. The stock had previously closed at $0.38.

Analysts Set New Price Targets

A number of brokerages have recently commented on TSBX. Piper Sandler cut Turnstone Biologics from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $3.75 to $0.40 in a research note on Wednesday, February 5th. Bank of America lowered Turnstone Biologics from a “neutral” rating to an “underperform” rating in a research note on Friday, November 15th.

Turnstone Biologics Trading Up 1.5 %

The stock has a market capitalization of $8.92 million, a price-to-earnings ratio of -0.12 and a beta of 2.12. The company’s 50-day simple moving average is $0.45 and its 200-day simple moving average is $0.53.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Turnstone Biologics stock. FMR LLC grew its stake in Turnstone Biologics Corp. (NASDAQ:TSBX) by 3.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,172,987 shares of the company’s stock after buying an additional 37,738 shares during the period. FMR LLC owned 5.07% of Turnstone Biologics worth $653,000 as of its most recent filing with the Securities and 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.