Turnstone Biologics Corp. (TSBX) rating initates by SVB Securities

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Turnstone Biologics Corp.’s recent filing unveils that its 10% Owner Versant Ventures V, LLC acquired Company’s shares for reported $2.7 million on Jul 25. In the deal valued at $12.00 per share,225,000 shares were bought. As a result of this transaction, Versant Ventures V, LLC now holds 2,726,322 shares worth roughly $ 32.5 million.

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Then, Jerel Davis bought 225,000 shares, generating $2,700,000 in total proceeds. Upon buying the shares at $12.00, the Director now owns 2,726,322 shares.

Before that, Gupta Rishi bought 416,666 shares. Turnstone Biologics Corp. shares valued at $4,999,992 were divested by the Director at a price of $12.00 per share. As a result of the transaction, Gupta Rishi now holds 3,099,265 shares, worth roughly $36.94 million.

SVB Securities initiated its Turnstone Biologics Corp. [TSBX] rating to a Market perform in a research note published on Friday.

Price Performance Review of TSBX

On Friday, Turnstone Biologics Corp. [NASDAQ:TSBX] saw its stock jump 10.47% to $11.92. On the same session, the stock had its day’s lowest price of $10.10, but rose to a high of $12.16. Over the last five days, the stock has gained 9.26%. Turnstone Biologics Corp. shares have risen nearly 8.36% since the year began.

Levels Of Support And Resistance For TSBX Stock

The 24-hour chart illustrates a support level at 10.63, which if violated will result in even more drops to 9.33. On the upside, there is a resistance level at 12.69. A further resistance level may holdings at 13.45. The Relative Strength Index (RSI) on the 14-day chart is 59.74, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.17, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 7.26%. Stochastics %K at 73.81% indicates the stock is a holding.

According to FactSet, Turnstone Biologics Corp.’s share price will average $17.00 in the next year, based on opinions of analysts polled by the firm. This is up nearly 66.82 percent from its previous closing price of $10.79. Analysts expect Turnstone Biologics Corp. stock to reach the higher price of $20.00, while the lowest price estimate is $13.00. However, 3 analysts have rated TSBX stock as an Overweight in their predictions for 2023.

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