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

Shares of Tourmaline Bio, Inc. (NASDAQ:TRML) have earned an average rating of “Buy” from the six research firms that are covering the company, MarketBeat reports. Six investment analysts have rated the stock with a buy rating. The average 12-month price objective among analysts that have covered the stock in the last year is $61.80.

A number of research analysts recently issued reports on the stock. HC Wainwright reissued a “buy” rating and issued a $48.00 price objective on shares of Tourmaline Bio in a research note on Wednesday, March 20th. Truist Financial reiterated a “buy” rating and issued a $74.00 price target on shares of Tourmaline Bio in a research note on Monday, March 25th. Finally, Jefferies Financial Group boosted their price target on Tourmaline Bio from $41.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th.

Insider Activity at Tourmaline Bio

In related news, Director Mark Mcdade bought 100,000 shares of the firm’s stock in a transaction 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 purchase, the director now owns 448,431 shares in the company, valued at approximately $14,574,007.50. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 16.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Tourmaline Bio

Large investors have recently bought and sold shares of the company. Northern Trust Corp acquired a new position in shares of Tourmaline Bio in the fourth quarter valued at approximately $586,000. Dimensional Fund Advisors LP acquired a new stake in Tourmaline Bio during the 4th quarter worth approximately $546,000. Cubist Systematic Strategies LLC bought a new stake in Tourmaline Bio during the 4th quarter worth approximately $399,000. Goldman Sachs Group Inc. acquired a new position in Tourmaline Bio in the 4th quarter valued at approximately $236,000. Finally, Great Point Partners LLC bought a new position in shares of Tourmaline Bio during the fourth quarter valued at $17,616,000. 91.89% of the stock is currently owned by institutional investors.

Tourmaline Bio Stock Performance

TRML stock opened at $16.68 on Thursday. Tourmaline Bio has a 52 week low of $9.18 and a 52 week high of $48.31. The company has a 50-day moving average of $32.74. The firm has a market capitalization of $427.84 million, a P/E ratio of -1.47 and a beta of 2.33.

Tourmaline Bio (NASDAQ:TRML) last released 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). As a group, analysts anticipate that Tourmaline Bio will post -2.9 EPS for the current fiscal year.

About Tourmaline Bio

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.