Tourmaline Bio, Inc. (NASDAQ:TRML - Get Free Report)'s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $25.52, but opened at $26.11. Tourmaline Bio shares last traded at $25.95, with a volume of 10,889 shares changing hands.
Wall Street Analysts Forecast Growth
Separately, HC Wainwright reissued a "buy" rating and set a $48.00 price target on shares of Tourmaline Bio in a research report on Monday, August 12th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $61.80.
View Our Latest Stock Report on TRML
Tourmaline Bio Stock Up 0.9 %
The business has a fifty day moving average price of $19.52 and a 200-day moving average price of $17.11. The company has a market cap of $660.23 million, a P/E ratio of -7.26 and a beta of 2.37.
Tourmaline Bio (NASDAQ:TRML - Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.68) EPS for the quarter, beating analysts' consensus estimates of ($0.72) by $0.04. As a group, research analysts expect that Tourmaline Bio, Inc. will post -3.12 earnings per share for the current year.
Insider Buying and Selling at Tourmaline Bio
In other Tourmaline Bio news, CEO Sandeep Chidambar Kulkarni purchased 5,221 shares of the company's stock in a transaction dated Friday, August 16th. The stock was bought at an average cost of $13.79 per share, for a total transaction of $71,997.59. Following the completion of the transaction, the chief executive officer now owns 5,221 shares in the company, valued at approximately $71,997.59. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders own 11.02% of the company's stock.
Hedge Funds Weigh In On Tourmaline Bio
Several hedge funds have recently bought and sold shares of TRML. Denali Advisors LLC acquired a new stake in shares of Tourmaline Bio during the 1st quarter worth approximately $128,000. China Universal Asset Management Co. Ltd. lifted its stake in Tourmaline Bio by 109.5% during the first 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 last quarter. BNP Paribas Financial Markets acquired a new stake in shares of Tourmaline Bio in the 1st quarter valued at $31,000. Jennison Associates LLC bought a new position in shares of Tourmaline Bio in the 1st quarter valued at $25,539,000. Finally, Swiss National Bank acquired a new position in shares of Tourmaline Bio during the 1st quarter worth $733,000. 91.89% of the stock is 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.
See Also
Before you consider Tourmaline Bio, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Tourmaline Bio wasn't on the list.
While Tourmaline Bio currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
