Chardan Capital Begins Coverage on Tourmaline Bio (NASDAQ:TRML)

Equities research analysts at Chardan Capital initiated coverage on shares of Tourmaline Bio (NASDAQ:TRML) in a note issued to investors on Wednesday, MarketBeat reports. The firm set a “buy” rating and a $70.00 price target on the stock. Chardan Capital’s target price would suggest a potential upside of 304.16% from the stock’s current price.

TRML has been the topic of several other reports. Lifesci Capital initiated coverage on Tourmaline Bio in a report on Monday, February 24th. They set an “outperform” rating and a $58.00 target price on the stock. HC Wainwright raised their price target on Tourmaline Bio from $49.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, March 14th. Finally, Wedbush boosted their price objective on Tourmaline Bio from $42.00 to $43.00 and gave the company an “outperform” rating in a research report on Friday, March 14th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $49.33.

Tourmaline Bio Trading Down 2.8 %

Shares of TRML opened at $17.32 on Wednesday. The stock has a market cap of $444.86 million, a P/E ratio of -6.14 and a beta of 2.14. Tourmaline Bio has a 1 year low of $11.56 and a 1 year high of $29.79. The stock’s 50-day moving average price is $14.70 and its two-hundred day moving average price is $19.63.

Tourmaline Bio (NASDAQ:TRML) last released its quarterly earnings data on Thursday, March 13th. The company reported ($0.86) earnings per share for the quarter, topping the consensus estimate of ($0.91) by $0.05. The firm had revenue of $0.04 million for the quarter. As a group, equities analysts forecast that Tourmaline Bio will post -3.02 EPS for the current year.

Institutional Investors Weigh In On Tourmaline Bio

A number of hedge funds and other institutional investors have recently bought and sold shares of TRML. Brooklyn Investment Group bought a new position in shares of Tourmaline Bio during the 4th quarter worth approximately $32,000. Tower Research Capital LLC TRC grew its position in Tourmaline Bio by 297.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,646 shares of the company’s stock valued at $33,000 after purchasing an additional 1,232 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in Tourmaline Bio in the fourth quarter valued at $47,000. Virtus ETF Advisers LLC acquired a new stake in Tourmaline Bio in the 4th quarter valued at $64,000. Finally, GAMMA Investing LLC lifted its position in Tourmaline Bio by 4,481.7% during the 1st quarter. GAMMA Investing LLC now owns 7,514 shares of the company’s stock worth $114,000 after buying an additional 7,350 shares in the last quarter. Institutional investors and hedge funds 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.