Tourmaline Bio, Inc. (NASDAQ:TRML – Get Free Report) saw a large growth in short interest in the month of April. As of April 15th, there was short interest totalling 1,790,000 shares, a growth of 20.9% from the March 31st total of 1,480,000 shares. Based on an average daily volume of 438,000 shares, the days-to-cover ratio is presently 4.1 days. Currently, 11.6% of the company’s shares are short sold.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on the company. Jefferies Financial Group increased 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. Truist Financial reiterated a “buy” rating and set a $74.00 price objective on shares of Tourmaline Bio in a report on Monday, March 25th. Finally, HC Wainwright reissued a “buy” rating and set a $48.00 price objective on shares of Tourmaline Bio in a research report on Wednesday, March 20th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, Tourmaline Bio has an average rating of “Buy” and a consensus price target of $61.80.
View Our Latest Research Report on TRML
Tourmaline Bio Price Performance
Tourmaline Bio (NASDAQ:TRML – Get Free Report) last released its quarterly earnings results on Tuesday, March 19th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.06). On average, equities research analysts expect that Tourmaline Bio will post -2.9 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. raised its position in Tourmaline Bio by 109.5% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 4,939 shares of the company’s stock valued at $113,000 after buying an additional 2,582 shares during the last quarter. Denali Advisors LLC bought a new stake in shares of Tourmaline Bio in the 1st quarter worth $128,000. Jump Financial LLC purchased a new stake in shares of Tourmaline Bio in the fourth quarter valued at about $380,000. Affinity Asset Advisors LLC bought a new position in shares of Tourmaline Bio during the fourth quarter valued at about $1,782,000. Finally, BML Capital Management LLC purchased a new position in Tourmaline Bio during the fourth quarter worth about $6,427,000. Hedge funds and other institutional investors own 91.89% of the company’s stock.
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.
Recommended Stories
- Five stocks we like better than Tourmaline Bio
- Where to Find Earnings Call Transcripts
- NXP Semiconductors Will Set a New High Soon: $300 in Sight
- What does consumer price index measure?
- Hilton Demonstrates Asset Light is Right for Investors
- Dividend Payout Ratio Calculator
- Boston Scientific Bucks the Medtech Slow Down and Raises Outlook
Receive News & Ratings for Tourmaline Bio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tourmaline Bio and related companies with MarketBeat.com's FREE daily email newsletter.