Analysts Set Tourmaline Bio, Inc. (NASDAQ:TRML) PT at $61.80

by · The Cerbat Gem

Tourmaline Bio, Inc. (NASDAQ:TRML – Get Free Report) has been assigned a consensus recommendation of “Buy” from the six ratings firms that are covering the company, MarketBeat.com reports. Six analysts have rated the stock with a buy recommendation. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $61.80.

Separately, HC Wainwright restated a “buy” rating and set a $48.00 price target on shares of Tourmaline Bio in a report on Monday, August 12th.

Get Our Latest Stock Analysis on TRML

Tourmaline Bio Stock Up 1.9 %

Shares of NASDAQ:TRML opened at $23.02 on Friday. The firm has a fifty day simple moving average of $16.35 and a two-hundred day simple moving average of $18.54. Tourmaline Bio has a 52 week low of $9.18 and a 52 week high of $48.31. The stock has a market capitalization of $590.39 million, a P/E ratio of -3.54 and a beta of 2.31.

Tourmaline Bio (NASDAQ:TRML – Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.68) earnings per share for the quarter, topping the consensus estimate of ($0.72) by $0.04. On average, analysts expect that Tourmaline Bio will post -3.12 earnings per share for the current year.

Insider Transactions at Tourmaline Bio

In other Tourmaline Bio news, CEO Sandeep Chidambar Kulkarni acquired 5,221 shares of the business’s stock in a transaction on Friday, August 16th. The shares were bought at an average price of $13.79 per share, with a total value of $71,997.59. Following the transaction, the chief executive officer now directly owns 5,221 shares of the company’s stock, valued at approximately $71,997.59. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 11.02% of the company’s stock.

Institutional Investors Weigh In On Tourmaline Bio

Large investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets bought a new stake in shares of Tourmaline Bio during the first quarter valued at approximately $31,000. Quest Partners LLC raised its position in Tourmaline Bio by 134.0% during the 2nd quarter. Quest Partners LLC now owns 3,822 shares of the company’s stock valued at $49,000 after purchasing an additional 2,189 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in shares of 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 worth $113,000 after buying an additional 2,582 shares during the period. Denali Advisors LLC bought a new position in shares of Tourmaline Bio during the 1st quarter worth $128,000. Finally, Janus Henderson Group PLC purchased a new position in shares of Tourmaline Bio during the first quarter valued at $266,000. 91.89% of the stock is owned by hedge funds and other institutional investors.

About Tourmaline Bio

(Get Free Report

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.

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