Tourmaline Bio, Inc. (NASDAQ:TRML - Get Free Report)'s stock price gapped down before the market opened on Friday . The stock had previously closed at $27.48, but opened at $25.52. Tourmaline Bio shares last traded at $26.55, with a volume of 93,988 shares changing hands.
Analyst Ratings Changes
Separately, HC Wainwright reissued a "buy" rating and set a $48.00 target price on shares of Tourmaline Bio in a research report on Monday, August 12th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $61.80.
Read Our Latest Analysis on TRML
Tourmaline Bio Trading Down 8.5 %
The company has a market cap of $644.85 million, a price-to-earnings ratio of -6.83 and a beta of 2.37. The firm's 50-day moving average price is $19.11 and its 200 day moving average price is $17.17.
Tourmaline Bio (NASDAQ:TRML - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.68) EPS for the quarter, topping the consensus estimate of ($0.72) by $0.04. Analysts forecast that Tourmaline Bio, Inc. will post -3.12 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, CEO Sandeep Chidambar Kulkarni bought 5,221 shares of the business's stock in a transaction that occurred on Friday, August 16th. The shares were bought at an average cost of $13.79 per share, for a total transaction of $71,997.59. Following the acquisition, the chief executive officer now directly owns 5,221 shares in the company, valued at approximately $71,997.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.02% of the stock is owned by company insiders.
Hedge Funds Weigh In On Tourmaline Bio
Several large investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets bought a new position in Tourmaline Bio during the 1st quarter valued at $31,000. Quest Partners LLC raised its stake in shares of Tourmaline Bio by 134.0% during the 2nd quarter. Quest Partners LLC now owns 3,822 shares of the company's stock worth $49,000 after purchasing an additional 2,189 shares during the period. China Universal Asset Management Co. Ltd. raised its stake in shares of Tourmaline Bio by 109.5% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 4,939 shares of the company's stock worth $113,000 after purchasing an additional 2,582 shares during the period. Denali Advisors LLC bought a new stake in shares of Tourmaline Bio during the 1st quarter worth $128,000. Finally, Janus Henderson Group PLC bought a new stake in shares of Tourmaline Bio during the 1st quarter worth $266,000. 91.89% of the stock is currently owned by 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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