Tourmaline Bio (NASDAQ:TRML) Earns Buy Rating from Analysts at Truist Financial

Truist Financial initiated coverage on shares of Tourmaline Bio (NASDAQ:TRML) in a research note issued to investors on Friday morning, MarketBeat reports. The firm issued a buy rating and a $43.00 target price on the stock.

TRML has been the topic of several other reports. Piper Sandler assumed coverage on shares of Tourmaline Bio in a research report on Wednesday, October 25th. They set an overweight rating and a $65.00 target price on the stock. Guggenheim began coverage on shares of Tourmaline Bio in a research report on Tuesday, October 31st. They issued a buy rating and a $50.00 price objective on the stock.

Tourmaline Bio Stock Performance

Shares of NASDAQ TRML opened at $17.65 on Friday. The stock has a market cap of $75.54 million, a PE ratio of -1.18 and a beta of 2.26. Tourmaline Bio has a 12-month low of $8.90 and a 12-month high of $32.90.

Insider Buying and Selling

In other news, Director Caley Castelein acquired 15,800 shares of Tourmaline Bio stock in a transaction that occurred on Friday, October 27th. The shares were bought at an average cost of $14.55 per share, with a total value of $229,890.00. Following the transaction, the director now directly owns 516,519 shares of the company’s stock, valued at approximately $7,515,351.45. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Aaron Kantoff purchased 7,500 shares of the firm’s stock in a transaction dated Tuesday, October 24th. The stock was purchased at an average price of $11.86 per share, with a total value of $88,950.00. Following the completion of the purchase, the director now owns 45,391 shares of the company’s stock, valued at approximately $538,337.26. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Caley Castelein purchased 15,800 shares of the firm’s stock in a transaction dated Friday, October 27th. The shares were bought at an average cost of $14.55 per share, with a total value of $229,890.00. Following the purchase, the director now directly owns 516,519 shares of the company’s stock, valued at approximately $7,515,351.45. The disclosure for this purchase can be found here. Insiders have bought 37,950 shares of company stock valued at $515,022 in the last ninety days. 16.50% of the stock is owned by company insiders.

Tourmaline Bio Company Profile

Tourmaline Bio, Inc operates as a clinical biotechnology company that develops medicines for patients with life-altering immune diseases. It develops medicines and therapies for the Atherosclerotic cardiovascular disease (ASCVD) and Thyroid Eye Disease (TED). The company was incorporated in 2021 and is based in New York, New York.