Tourmaline Bio's (TRML) Buy Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Tourmaline Bio (NASDAQ:TRML - Free Report) in a research note published on Wednesday morning,Benzinga reports. They currently have a $49.00 price target on the stock.

Other equities analysts have also recently issued research reports about the stock. BMO Capital Markets initiated coverage on shares of Tourmaline Bio in a research note on Friday, December 6th. They issued an "outperform" rating and a $50.00 price objective for the company. Cantor Fitzgerald raised shares of Tourmaline Bio to a "strong-buy" rating in a research report on Tuesday, October 15th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Tourmaline Bio currently has a consensus rating of "Buy" and an average price target of $54.00.

Tourmaline Bio Trading Down 2.5 %

TRML stock traded down $0.62 during trading on Wednesday, reaching $24.38. 119,440 shares of the stock were exchanged, compared to its average volume of 292,272. Tourmaline Bio has a twelve month low of $12.12 and a twelve month high of $48.31. The company has a market capitalization of $625.18 million, a P/E ratio of -8.65 and a beta of 2.32. The stock has a 50 day simple moving average of $26.24 and a 200-day simple moving average of $19.71.

Tourmaline Bio (NASDAQ:TRML - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.78) earnings per share for the quarter, topping the consensus estimate of ($0.84) by $0.06. Equities analysts predict that Tourmaline Bio will post -3.08 EPS for the current year.

Institutional Investors Weigh In On Tourmaline Bio

A number of hedge funds have recently made changes to their positions in TRML. Point72 Asset Management L.P. bought a new stake in Tourmaline Bio during the third quarter worth about $8,701,000. Blue Owl Capital Holdings LP grew its position in Tourmaline Bio by 18.5% during the 2nd quarter. Blue Owl Capital Holdings LP now owns 1,715,401 shares of the company's stock worth $22,060,000 after acquiring an additional 268,000 shares during the last quarter. State Street Corp increased its holdings in Tourmaline Bio by 25.6% during the 3rd quarter. State Street Corp now owns 411,980 shares of the company's stock valued at $10,592,000 after purchasing an additional 83,949 shares in the last quarter. Bank of New York Mellon Corp bought a new position in Tourmaline Bio in the 2nd quarter valued at $909,000. Finally, Renaissance Technologies LLC boosted its stake in Tourmaline Bio by 184.9% in the second quarter. Renaissance Technologies LLC now owns 100,076 shares of the company's stock worth $1,287,000 after purchasing an additional 64,950 shares in the last quarter. Institutional investors and hedge funds 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.