Tourmaline Bio (NASDAQ:TRML) Earns “Neutral” Rating from Guggenheim

Tourmaline Bio (NASDAQ:TRML)‘s stock had its “neutral” rating restated by equities researchers at Guggenheim in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $48.00 price objective on the stock, down from their prior price objective of $55.00. Guggenheim’s price target would indicate a potential upside of 0.84% from the stock’s current price.

A number of other analysts have also recently weighed in on TRML. Chardan Capital cut shares of Tourmaline Bio from a “buy” rating to a “neutral” rating and lowered their target price for the company from $70.00 to $48.00 in a research note on Wednesday. Wedbush lowered shares of Tourmaline Bio from an “outperform” rating to a “neutral” rating and set a $48.00 price objective on the stock. in a report on Tuesday. Lifesci Capital lowered shares of Tourmaline Bio from an “outperform” rating to a “hold” rating and set a $48.00 target price on the stock. in a report on Tuesday. HC Wainwright lowered shares of Tourmaline Bio from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $50.00 to $48.00 in a report on Wednesday. Finally, Jefferies Financial Group downgraded shares of Tourmaline Bio from a “buy” rating to a “hold” rating and decreased their target price for the company from $64.00 to $47.50 in a research report on Tuesday. Two research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, Tourmaline Bio presently has a consensus rating of “Hold” and a consensus target price of $45.85.

Tourmaline Bio Price Performance

Shares of NASDAQ:TRML opened at $47.60 on Wednesday. The firm has a fifty day moving average of $22.92 and a two-hundred day moving average of $18.34. The firm has a market capitalization of $1.22 billion, a P/E ratio of -13.88 and a beta of 2.04. Tourmaline Bio has a 12-month low of $11.56 and a 12-month high of $47.69.

Tourmaline Bio (NASDAQ:TRML) last issued its earnings results on Wednesday, August 13th. The company reported ($0.90) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.94) by $0.04. Equities research analysts expect that Tourmaline Bio will post -3.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets boosted its stake in Tourmaline Bio by 34.1% during the second quarter. BNP Paribas Financial Markets now owns 2,103 shares of the company’s stock worth $34,000 after acquiring an additional 535 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in Tourmaline Bio by 35.7% during the second quarter. Tower Research Capital LLC TRC now owns 3,214 shares of the company’s stock worth $51,000 after buying an additional 846 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in Tourmaline Bio by 297.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,646 shares of the company’s stock worth $33,000 after purchasing an additional 1,232 shares during the period. SG Americas Securities LLC boosted its position in Tourmaline Bio by 3.9% during the first quarter. SG Americas Securities LLC now owns 36,180 shares of the company’s stock worth $550,000 after purchasing an additional 1,368 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Tourmaline Bio by 12.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,378 shares of the company’s stock valued at $291,000 after acquiring an additional 1,598 shares during the period. 91.89% of the stock is owned by 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.