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

Shares of Tourmaline Bio, Inc. (NASDAQ:TRML) have earned an average rating of “Buy” from the seven ratings firms that are covering the company, Marketbeat Ratings reports. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $61.80.

A number of equities research analysts have recently commented on TRML shares. Cantor Fitzgerald upgraded shares of Tourmaline Bio to a “strong-buy” rating in a report on Tuesday. HC Wainwright reiterated a “buy” rating and set a $48.00 price target on shares of Tourmaline Bio in a report on Monday, August 12th.

Tourmaline Bio Stock Performance

Shares of NASDAQ TRML opened at $27.80 on Thursday. Tourmaline Bio has a fifty-two week low of $9.18 and a fifty-two week high of $48.31. The company has a 50 day simple moving average of $20.02 and a two-hundred day simple moving average of $17.21. The company has a market capitalization of $712.99 million, a price-to-earnings ratio of -4.28 and a beta of 2.37.

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

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of TRML. Braidwell LP bought a new stake in shares of Tourmaline Bio during the 4th quarter valued at $23,741,000. Great Point Partners LLC bought a new stake in shares of Tourmaline Bio during the 4th quarter valued at $17,616,000. Denali Advisors LLC bought a new stake in shares of Tourmaline Bio during the 1st quarter valued at $128,000. China Universal Asset Management Co. Ltd. raised its position in shares of Tourmaline Bio by 109.5% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 4,939 shares of the company’s stock valued at $113,000 after purchasing an additional 2,582 shares during the period. Finally, BNP Paribas Financial Markets bought a new stake in shares of Tourmaline Bio during the 1st quarter valued at $31,000. Hedge funds and other institutional investors own 91.89% of the company’s stock.

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.