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

Shares of Tourmaline Bio, Inc. (NASDAQ:TRML) have been assigned an average rating of “Buy” from the six research firms that are presently covering the company, MarketBeat reports. Six investment analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $61.80.

TRML has been the subject of several recent analyst reports. Truist Financial reaffirmed a “buy” rating and issued a $74.00 target price on shares of Tourmaline Bio in a research note on Monday, March 25th. Jefferies Financial Group lifted their target price 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. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $48.00 target price on shares of Tourmaline Bio in a research note on Wednesday, March 20th.

Tourmaline Bio Stock Performance

Shares of TRML opened at $15.41 on Thursday. The stock’s 50 day simple moving average is $30.58. Tourmaline Bio has a 1-year low of $9.18 and a 1-year high of $48.31. The stock has a market cap of $395.27 million, a PE ratio of -1.36 and a beta of 2.33.

Tourmaline Bio (NASDAQ:TRML) last issued its quarterly earnings data on Tuesday, March 19th. The company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.06). On average, equities analysts expect that Tourmaline Bio will post -2.9 earnings per share for the current year.

Insider Buying and Selling at Tourmaline Bio

In related news, Director Mark Mcdade purchased 100,000 shares of the firm’s stock in a transaction on Monday, January 29th. The shares were bought at an average price of $32.50 per share, for a total transaction of $3,250,000.00. Following the acquisition, the director now directly owns 448,431 shares in the company, valued at $14,574,007.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 16.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tourmaline Bio

A number of hedge funds have recently made changes to their positions in the stock. Denali Advisors LLC acquired a new position in shares of Tourmaline Bio in the 1st quarter valued at $128,000. Jump Financial LLC acquired a new position in shares of Tourmaline Bio during the 4th quarter valued at $380,000. Affinity Asset Advisors LLC acquired a new position in shares of Tourmaline Bio during the 4th quarter valued at $1,782,000. BML Capital Management LLC acquired a new position in shares of Tourmaline Bio during the 4th quarter valued at $6,427,000. Finally, RTW Investments LP acquired a new position in shares of Tourmaline Bio during the 4th quarter valued at $10,442,000. Institutional investors and hedge funds own 91.89% of the company’s stock.

About Tourmaline Bio

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.