Tourmaline Bio, Inc. (NASDAQ:TRML) Given Average Recommendation of “Buy” by Analysts

Shares of Tourmaline Bio, Inc. (NASDAQ:TRML) have received a consensus rating of “Buy” from the six research firms that are covering the stock, Marketbeat.com reports. Six research analysts have rated the stock with a buy recommendation. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $54.00.

TRML has been the topic of a number of research analyst reports. Guggenheim reiterated a “buy” rating on shares of Tourmaline Bio in a research note on Wednesday, December 11th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $25.00 price target on shares of Tourmaline Bio in a research note on Wednesday, December 11th. BMO Capital Markets assumed coverage on Tourmaline Bio in a report on Friday, December 6th. They issued an “outperform” rating and a $50.00 price objective for the company. Finally, HC Wainwright reaffirmed a “buy” rating and set a $49.00 target price on shares of Tourmaline Bio in a report on Wednesday, December 11th.

Tourmaline Bio Stock Performance

NASDAQ:TRML opened at $21.74 on Tuesday. The stock has a market cap of $557.48 million, a price-to-earnings ratio of -7.71 and a beta of 2.36. Tourmaline Bio has a one year low of $12.12 and a one year high of $48.31. The business’s 50-day simple moving average is $23.99 and its 200 day simple moving average is $20.60.

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

Hedge Funds Weigh In On Tourmaline Bio

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Point72 Asset Management L.P. bought a new stake in shares of Tourmaline Bio in the 3rd quarter worth approximately $8,701,000. Blue Owl Capital Holdings LP lifted its stake in Tourmaline Bio by 18.5% in the second quarter. Blue Owl Capital Holdings LP now owns 1,715,401 shares of the company’s stock valued at $22,060,000 after buying an additional 268,000 shares during the last quarter. State Street Corp boosted its holdings in shares of Tourmaline Bio by 25.6% during the third quarter. State Street Corp now owns 411,980 shares of the company’s stock valued at $10,592,000 after acquiring an additional 83,949 shares during the period. Bank of New York Mellon Corp bought a new position in shares of Tourmaline Bio during the second quarter worth about $909,000. Finally, Renaissance Technologies LLC increased its holdings in shares of Tourmaline Bio by 184.9% in the 2nd quarter. Renaissance Technologies LLC now owns 100,076 shares of the company’s stock worth $1,287,000 after acquiring an additional 64,950 shares during the period. 91.89% of the stock is currently owned by institutional investors and hedge funds.

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.