Turnstone Biologics (NASDAQ:TSBX) Trading 1.5% Higher – Still a Buy?

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Piper Sandler cut Turnstone Biologics from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $3.75 to $0.40 in a report on Wednesday, February 5th. Bank of America lowered shares of 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 business has a 50-day moving average of $0.45 and a 200 day moving average of $0.53. The firm has a market capitalization of $8.92 million, a P/E ratio of -0.12 and a beta of 2.12.

Institutional Investors Weigh In On Turnstone Biologics

A hedge fund recently bought a new stake in Turnstone Biologics stock. Takeda Pharmaceutical Co. Ltd. purchased a new stake in shares of Turnstone Biologics Corp. (NASDAQ:TSBX) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 895,824 shares of the company’s stock, valued at approximately $448,000. Turnstone Biologics makes up 1.7% of Takeda Pharmaceutical Co. Ltd.’s investment portfolio, making the stock its 8th biggest position. Takeda Pharmaceutical Co. Ltd. owned 3.87% of Turnstone Biologics as of its most recent SEC filing. Institutional investors and hedge funds 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.