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

Tourmaline Bio, Inc. (NASDAQ:TRML) has earned an average recommendation of “Buy” from the six brokerages that are presently covering the stock, Marketbeat.com reports. Six analysts have rated the stock with a buy rating. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $61.80.

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

Insider Buying and Selling

In related news, Director Mark Mcdade acquired 100,000 shares of the company’s stock in a transaction on Monday, January 29th. The stock was purchased at an average cost of $32.50 per share, for a total transaction of $3,250,000.00. Following the completion of the purchase, the director now directly owns 448,431 shares of the company’s stock, valued at approximately $14,574,007.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 16.50% of the stock is owned by corporate insiders.

Institutional Trading of Tourmaline Bio

Several large investors have recently added to or reduced their stakes in TRML. Denali Advisors LLC acquired a new position in shares of Tourmaline Bio in the 1st quarter worth approximately $128,000. Jump Financial LLC bought a new position in Tourmaline Bio in the 4th quarter valued at $380,000. Affinity Asset Advisors LLC acquired a new position in Tourmaline Bio in the fourth quarter worth $1,782,000. BML Capital Management LLC bought a new stake in shares of Tourmaline Bio during the fourth quarter worth $6,427,000. Finally, RTW Investments LP acquired a new stake in shares of Tourmaline Bio in the fourth quarter valued at $10,442,000. 91.89% of the stock is owned by institutional investors.

Tourmaline Bio Price Performance

Shares of TRML stock opened at $15.50 on Thursday. The company has a market capitalization of $397.58 million, a price-to-earnings ratio of -1.37 and a beta of 2.33. Tourmaline Bio has a 1 year low of $9.18 and a 1 year high of $48.31. The business’s fifty day moving average is $31.47.

Tourmaline Bio (NASDAQ:TRML) last posted its quarterly earnings data on Tuesday, March 19th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by ($0.06). As a group, equities 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.