BML Capital Management LLC Buys Shares of 245,500 Tourmaline Bio, Inc. (NASDAQ:TRML)

BML Capital Management LLC bought a new stake in Tourmaline Bio, Inc. (NASDAQ:TRML) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 245,500 shares of the company’s stock, valued at approximately $6,427,000. Tourmaline Bio accounts for 4.9% of BML Capital Management LLC’s holdings, making the stock its 5th biggest holding.

Tourmaline Bio Stock Performance

Tourmaline Bio stock opened at $15.09 on Wednesday. The stock’s fifty day moving average is $31.02. Tourmaline Bio, Inc. has a twelve month low of $9.18 and a twelve month high of $48.31.

Tourmaline Bio (NASDAQ:TRML) last posted its earnings results on Tuesday, March 19th. The company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.75) by ($0.06). Analysts predict that Tourmaline Bio, Inc. will post -2.9 EPS for the current year.

Insider Activity at Tourmaline Bio

In other Tourmaline Bio news, Director Mark Mcdade bought 100,000 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The shares were purchased at an average price of $32.50 per share, with a total value of $3,250,000.00. Following the completion of the acquisition, the director now directly owns 448,431 shares of the company’s stock, valued at approximately $14,574,007.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 16.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have issued reports on TRML shares. Jefferies Financial Group boosted their target price on Tourmaline Bio from $41.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. HC Wainwright reaffirmed a “buy” rating and set a $48.00 price objective on shares of Tourmaline Bio in a research report on Wednesday, March 20th. Finally, Truist Financial reaffirmed a “buy” rating and set a $74.00 price objective on shares of Tourmaline Bio in a research report on Monday, March 25th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $61.80.

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.