Wet bread and squeeze out water. Crumble wet bread into a large bowl. Add the parmesan, onion, basil, parsley, garlic, salt, pepper, and red pepper flakes. Stir to blend. Add the ground turkey and egg and mix gently with your hands until thoroughly combined.
Form the meat mixture into 1 1/2-inch balls (22 to 24 meatballs). Place the meatballs on a heavy nonstick baking sheet, spacing apart. Chill 1 to 24 hours.
Preheat oven to 400 degrees F. Drizzle meatballs with olive oil and bake until cooked through, 15 to 20 minutes. Serve with pasta and marinara sauce.
*Nutritional information is an estimate. Please consult a doctor or nutritionist for the most accurate nutritional info.