Turnstone Biologics (NASDAQ:TSBX) Shares Up 0.8% – Still a Buy?

Shares of Turnstone Biologics Corp. (NASDAQ:TSBX) shot up 0.8% on Thursday . The company traded as high as $0.32 and last traded at $0.32. 119,647 shares traded hands during trading, a decline of 45% from the average session volume of 218,991 shares. The stock had previously closed at $0.32.

Analyst Ratings Changes

Separately, Piper Sandler cut Turnstone Biologics from an “overweight” rating to a “neutral” rating and cut their price target for the company from $3.75 to $0.40 in a report on Wednesday, February 5th.

Turnstone Biologics Stock Performance

The business’s 50 day moving average price is $0.38 and its 200-day moving average price is $0.45. The company has a market cap of $7.38 million, a price-to-earnings ratio of -0.10 and a beta of 1.30.

Turnstone Biologics (NASDAQ:TSBX) last announced its quarterly earnings results on Friday, March 28th. The company reported ($0.56) EPS for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.13. On average, equities research analysts expect that Turnstone Biologics Corp. will post -3.32 earnings per share for the current fiscal year.

Institutional Trading of Turnstone Biologics

A hedge fund recently bought a new stake in Turnstone Biologics stock. Takeda Pharmaceutical Co. Ltd. bought a new position in Turnstone Biologics Corp. (NASDAQ:TSBX) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 895,824 shares of the company’s stock, valued at approximately $448,000. Turnstone Biologics comprises about 1.7% of Takeda Pharmaceutical Co. Ltd.’s investment portfolio, making the stock its 8th biggest holding. Takeda Pharmaceutical Co. Ltd. owned 3.87% of Turnstone Biologics at the end of the most recent reporting period. 52.51% of the stock is owned by hedge funds and other 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.