Tourmaline Bio (NASDAQ:TRML) Earns Buy Rating from Truist Financial

Truist Financial reissued their buy rating on shares of Tourmaline Bio (NASDAQ:TRML) in a research report report published on Monday, Benzinga reports. Truist Financial currently has a $74.00 target price on the stock.

Other equities analysts also recently issued research reports about the stock. Jefferies Financial Group boosted their price target on shares of Tourmaline Bio from $41.00 to $72.00 and gave the stock a buy rating in a research note on Wednesday, March 20th. HC Wainwright restated a buy rating and issued a $48.00 price target on shares of Tourmaline Bio in a research note on Wednesday, March 20th. Finally, Leerink Partnrs restated an outperform rating on shares of Tourmaline Bio in a research note on Thursday, December 7th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Tourmaline Bio presently has an average rating of Buy and a consensus target price of $61.80.

Tourmaline Bio Stock Performance

NASDAQ:TRML opened at $22.90 on Monday. The stock has a fifty day simple moving average of $36.86. The firm has a market capitalization of $465.79 million, a P/E ratio of -2.02 and a beta of 2.45. Tourmaline Bio has a 52 week low of $9.18 and a 52 week high of $48.31.

Insider Transactions at Tourmaline Bio

In other news, Director Mark Mcdade acquired 100,000 shares of the firm’s stock in a transaction dated Monday, January 29th. The stock was acquired at an average cost of $32.50 per share, with a total value of $3,250,000.00. Following the transaction, the director now owns 448,431 shares in the company, valued at $14,574,007.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 16.50% of the company’s stock.

Institutional Investors Weigh In On Tourmaline Bio

A number of institutional investors and hedge funds have recently bought and sold shares of TRML. BML Capital Management LLC purchased a new stake in Tourmaline Bio in the fourth quarter valued at $6,427,000. Vivo Capital LLC purchased a new stake in Tourmaline Bio in the fourth quarter valued at $15,495,000. Jump Financial LLC purchased a new stake in Tourmaline Bio in the fourth quarter valued at $380,000. Dimensional Fund Advisors LP purchased a new stake in Tourmaline Bio in the fourth quarter valued at $546,000. Finally, Goldman Sachs Group Inc. purchased a new stake in Tourmaline Bio in the fourth quarter valued at $236,000. 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.