Tourmaline Bio, Inc. (NASDAQ:TRML) Receives Average Rating of “Buy” from Analysts

Shares of Tourmaline Bio, Inc. (NASDAQ:TRML) have earned a consensus recommendation of “Buy” from the six ratings firms that are presently covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokerages that have covered the stock in the last year is $61.80.

Separately, HC Wainwright reissued a “buy” rating and issued a $48.00 target price on shares of Tourmaline Bio in a report on Monday, August 12th.

Tourmaline Bio Price Performance

TRML opened at $25.52 on Thursday. The business has a fifty day moving average price of $19.52 and a 200 day moving average price of $17.11. Tourmaline Bio has a 12 month low of $9.18 and a 12 month high of $48.31. The stock has a market capitalization of $654.33 million, a price-to-earnings ratio of -6.93 and a beta of 2.37.

Tourmaline Bio (NASDAQ:TRML) last issued its earnings results on Thursday, August 8th. The company reported ($0.68) earnings per share for the quarter, beating the consensus estimate of ($0.72) by $0.04. On average, research analysts anticipate that Tourmaline Bio will post -3.12 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Sandeep Chidambar Kulkarni acquired 5,221 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was bought at an average price of $13.79 per share, for a total transaction of $71,997.59. Following the completion of the purchase, the chief executive officer now directly owns 5,221 shares of the company’s stock, valued at approximately $71,997.59. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 11.02% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tourmaline Bio

Institutional investors and hedge funds have recently made changes to their positions in the business. Braidwell LP acquired a new position in Tourmaline Bio in the 4th quarter valued at about $23,741,000. Great Point Partners LLC acquired a new position in shares of Tourmaline Bio in the fourth quarter valued at approximately $17,616,000. Denali Advisors LLC purchased a new stake in shares of Tourmaline Bio during the first quarter worth approximately $128,000. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Tourmaline Bio by 109.5% during the first quarter. China Universal Asset Management Co. Ltd. now owns 4,939 shares of the company’s stock worth $113,000 after purchasing an additional 2,582 shares during the period. Finally, BNP Paribas Financial Markets purchased a new position in Tourmaline Bio in the 1st quarter valued at $31,000. 91.89% of the stock is owned by hedge funds and other institutional investors.

Tourmaline Bio Company Profile

Tourmaline Bio, Inc operates as a clinical biotechnology company that develops medicines for patients with life-altering immune and inflammatory diseases. It develops TOUR006, a human anti-IL-6 monoclonal antibody that selectively binds to interleukin-6, a key proinflammatory cytokine involved in the pathogenesis of many autoimmune and inflammatory disorders.