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

Turnstone Biologics (NASDAQ:TSBX) announced its quarterly earnings data on Tuesday. The company reported ($0.74) EPS for the quarter, beating analysts’ consensus estimates of ($0.87) by $0.13, Zacks reports.

Turnstone Biologics Price Performance

Shares of TSBX traded down $0.02 during mid-day trading on Thursday, reaching $0.51. The company had a trading volume of 59,435 shares, compared to its average volume of 230,408. The company’s 50-day moving average is $0.54 and its 200-day moving average is $1.69. The company has a market capitalization of $11.87 million, a P/E ratio of -0.16 and a beta of 2.21. Turnstone Biologics has a twelve month low of $0.44 and a twelve month high of $5.75.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TSBX. Piper Sandler reduced their price objective on 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 downgraded shares of Turnstone Biologics from a “buy” rating to a “neutral” rating and decreased their price target 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.