SCHEDULE: Point72 Reports 0% Stake in Turnstone Biologics

Point72 Asset Management and its affiliates, including Steven A. Cohen, have reported a 0% beneficial ownership stake in Turnstone Biologics Corp. as of September 30, 2025.

Summary

• Point72 Asset Management, L.P., Point72 Capital Advisors, Inc., Point72 Biotech Private Investments, LLC, Differentiated Ventures Investments, LLC, 72 Investment Holdings, LLC, and Steven A. Cohen are the reporting persons.
• The filing is an Amendment No. 1 to Schedule 13G, indicating a change from a previously reported ownership position.
• As of September 30, 2025, the aggregate amount beneficially owned by each reporting person is 0.00 shares.
• The percentage of the class represented by this amount is 0%.
• The reporting persons disclaim any intent to change or influence the control of Turnstone Biologics Corp.

Sentiment

Score: 5

Explanation: The filing is a factual report of beneficial ownership change, not containing performance metrics or forward-looking statements from the issuer. The sentiment is neutral regarding the issuer's operations, but the divestment by a major investor could be perceived negatively by the market.

Negatives

• Point72 Asset Management and its affiliates, a notable institutional investor group, have reduced their beneficial ownership in Turnstone Biologics Corp. to 0%.

Future Outlook

This filing does not contain forward-looking statements or guidance from Turnstone Biologics Corp. It solely reports a change in beneficial ownership by Point72 and its affiliates.

Industry Context

This Schedule 13G amendment reflects a change in institutional investor sentiment or portfolio strategy regarding Turnstone Biologics Corp. The reduction to a 0% stake by a prominent investment firm like Point72 could be interpreted by the market as a divestment or a decision to no longer hold a significant position in the biotech company, potentially influencing other investors' perceptions.

Stakeholder Impact

• Shareholders: The divestment by Point72 and its affiliates could lead to a re-evaluation of Turnstone Biologics Corp. by other institutional and retail investors, potentially impacting share price due to perceived loss of institutional confidence.
• Investment Community: Signals a change in investment thesis or portfolio allocation by a significant fund, which may prompt other analysts and investors to review their positions.

Key Dates

Keywords

Turnstone Biologics Corp., Point72 Asset Management, Steven A. Cohen, Schedule 13G, Beneficial Ownership, Institutional Ownership, Biotech, Investment