Tourmaline Bio, Inc. (NASDAQ:TRML) Sees Significant Growth in Short Interest

Tourmaline Bio, Inc. (NASDAQ:TRML) was the target of a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 2,080,000 shares, a growth of 26.8% from the December 15th total of 1,640,000 shares. Approximately 13.8% of the shares of the company are short sold. Based on an average daily trading volume, of 197,500 shares, the short-interest ratio is presently 10.5 days.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in TRML. Brooklyn Investment Group bought a new stake in shares of Tourmaline Bio during the fourth quarter valued at about $32,000. Quest Partners LLC increased its holdings in Tourmaline Bio by 134.0% during the 2nd quarter. Quest Partners LLC now owns 3,822 shares of the company’s stock worth $49,000 after acquiring an additional 2,189 shares during the period. China Universal Asset Management Co. Ltd. lifted its stake in Tourmaline Bio by 63.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 4,932 shares of the company’s stock worth $127,000 after purchasing an additional 1,920 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in Tourmaline Bio in the 3rd quarter valued at $226,000. Finally, MetLife Investment Management LLC purchased a new position in shares of Tourmaline Bio during the 3rd quarter valued at $357,000. Institutional investors own 91.89% of the company’s stock.

Tourmaline Bio Trading Down 5.0 %

Shares of TRML stock opened at $17.33 on Friday. Tourmaline Bio has a 12 month low of $12.12 and a 12 month high of $48.31. The stock has a market capitalization of $444.34 million, a P/E ratio of -6.15 and a beta of 2.36. The firm’s 50 day moving average is $22.77 and its 200 day moving average is $20.79.

Tourmaline Bio (NASDAQ:TRML) last posted its earnings results on Thursday, November 7th. The company reported ($0.78) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.84) by $0.06. On average, equities analysts predict that Tourmaline Bio will post -2.99 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on TRML shares. BMO Capital Markets assumed coverage on shares of Tourmaline Bio in a research note on Friday, December 6th. They issued an “outperform” rating and a $50.00 target price on the stock. HC Wainwright reiterated a “buy” rating and issued a $49.00 price objective on shares of Tourmaline Bio in a research note on Wednesday, December 11th. Guggenheim reissued a “buy” rating on shares of Tourmaline Bio in a research report on Wednesday, December 11th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $25.00 target price on shares of Tourmaline Bio in a research note on Wednesday, December 11th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $54.00.

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.