In a report released yesterday, Daina Graybosch from Leerink Partners reiterated a Hold rating on Turnstone Biologics Corp. (TSBX – Research Report), with a price target of $1.00.
Daina Graybosch’s rating is based on the ongoing search for strategic partnerships by Turnstone Biologics Corp. The company is exploring various options such as acquisitions, mergers, or licensing deals following the discontinuation of their primary operations in their lead program, TIDAL-01, which was focused on colorectal cancer. This strategic uncertainty contributes to the Hold rating.
Additionally, Turnstone Biologics holds a cash reserve of $28.9 million, which is expected to support their operations until mid-2026. This financial position, along with the strategic search, suggests a cautious approach, justifying the Hold recommendation. The price target remains at $1, reflecting these considerations.
TSBX’s price has also changed moderately for the past six months – from $0.535 to $0.376, which is a -29.72% drop .