Tourmaline Bio (NASDAQ:TRML) Stock Rating Lowered by Truist Financial

Tourmaline Bio (NASDAQ:TRML) was downgraded by Truist Financial from a “buy” rating to a “hold” rating in a research report issued on Wednesday, MarketBeat.com reports. They currently have a $48.00 price objective on the stock, down from their prior price objective of $63.00. Truist Financial’s price objective would indicate a potential upside of 0.84% from the company’s previous close.

Several other research firms also recently issued reports on TRML. HC Wainwright downgraded shares of Tourmaline Bio from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $50.00 to $48.00 in a research note on Wednesday. Chardan Capital lowered shares of Tourmaline Bio from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $70.00 to $48.00 in a research report on Wednesday. Jefferies Financial Group lowered shares of Tourmaline Bio from a “buy” rating to a “hold” rating and decreased their price target for the company from $64.00 to $47.50 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 price target on the stock. in a report on Tuesday. Finally, Guggenheim reiterated a “neutral” rating and issued a $48.00 price target (down previously from $55.00) on shares of Tourmaline Bio in a report on Wednesday. Two equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $45.85.

Tourmaline Bio Price Performance

Tourmaline Bio stock opened at $47.60 on Wednesday. Tourmaline Bio has a 1-year low of $11.56 and a 1-year high of $47.69. The business has a fifty day moving average price of $22.92 and a 200-day moving average price of $18.34. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of -13.88 and a beta of 2.04.

Tourmaline Bio (NASDAQ:TRML) last issued its earnings results on Wednesday, August 13th. The company reported ($0.90) earnings per share for the quarter, topping the consensus estimate of ($0.94) by $0.04. On average, equities research analysts anticipate that Tourmaline Bio will post -3.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets lifted its holdings in shares of Tourmaline Bio by 34.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,103 shares of the company’s stock worth $34,000 after acquiring an additional 535 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of Tourmaline Bio by 35.7% in the second quarter. Tower Research Capital LLC TRC now owns 3,214 shares of the company’s stock worth $51,000 after acquiring an additional 846 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Tourmaline Bio by 297.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,646 shares of the company’s stock worth $33,000 after acquiring an additional 1,232 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Tourmaline Bio by 3.9% in the first quarter. SG Americas Securities LLC now owns 36,180 shares of the company’s stock worth $550,000 after acquiring an additional 1,368 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake 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 worth $291,000 after acquiring an additional 1,598 shares during 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.