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

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

Turnstone Biologics Stock Down 8.8 %

TSBX stock traded down $0.05 during midday trading on Wednesday, reaching $0.53. The company had a trading volume of 89,367 shares, compared to its average volume of 231,012. The stock has a 50 day moving average price of $0.55 and a 200 day moving average price of $1.70. Turnstone Biologics has a fifty-two week low of $0.44 and a fifty-two week high of $5.75. The firm has a market capitalization of $12.21 million, a PE ratio of -0.16 and a beta of 2.21.

Analyst Ratings Changes

A number of analysts have issued reports on TSBX shares. Bank of America lowered Turnstone Biologics from a “buy” rating to a “neutral” rating and cut their target price for the company from $10.00 to $0.50 in a research report on Monday, October 14th. Piper Sandler decreased 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 note on Monday, August 19th.

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.