Short Interest in Tourmaline Bio, Inc. (NASDAQ:TRML) Rises By 26.8%

Tourmaline Bio, Inc. (NASDAQ:TRML - Get Free Report) was the recipient of a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 2,080,000 shares, an increase of 26.8% from the December 15th total of 1,640,000 shares. Currently, 13.8% of the company's stock are short sold. Based on an average daily volume of 197,500 shares, the days-to-cover ratio is presently 10.5 days.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TRML. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $25.00 target price on shares of Tourmaline Bio in a research report on Wednesday, December 11th. HC Wainwright restated a "buy" rating and set a $49.00 price objective on shares of Tourmaline Bio in a research note on Wednesday, December 11th. BMO Capital Markets began coverage on shares of Tourmaline Bio in a research note on Friday, December 6th. They issued an "outperform" rating and a $50.00 target price for the company. Finally, Guggenheim reissued a "buy" rating on shares of Tourmaline Bio in a research report on Wednesday, December 11th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $54.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TRML. SG Americas Securities LLC lifted its stake in Tourmaline Bio by 3.4% in the fourth quarter. SG Americas Securities LLC now owns 34,812 shares of the company's stock valued at $706,000 after purchasing an additional 1,140 shares during the last quarter. Brooklyn Investment Group bought a new stake in shares of Tourmaline Bio in the fourth quarter valued at $32,000. JPMorgan Chase & Co. lifted its position in shares of Tourmaline Bio by 16.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 14,804 shares of the company's stock valued at $381,000 after buying an additional 2,100 shares during the last quarter. Barclays PLC grew its stake in shares of Tourmaline Bio by 283.7% during the 3rd quarter. Barclays PLC now owns 31,833 shares of the company's stock worth $819,000 after acquiring an additional 23,536 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Tourmaline Bio by 6.4% in the 3rd quarter. Geode Capital Management LLC now owns 482,078 shares of the company's stock worth $12,396,000 after acquiring an additional 29,005 shares during the last quarter. 91.89% of the stock is owned by institutional investors.

Tourmaline Bio Stock Performance

NASDAQ:TRML traded up $0.67 during trading on Friday, reaching $18.00. The company's stock had a trading volume of 325,872 shares, compared to its average volume of 224,979. Tourmaline Bio has a 12 month low of $12.12 and a 12 month high of $48.31. The firm has a market cap of $461.52 million, a price-to-earnings ratio of -6.38 and a beta of 2.36. The firm has a 50 day moving average of $22.77 and a 200-day moving average of $20.79.

Tourmaline Bio (NASDAQ:TRML - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.78) earnings per share for the quarter, beating the consensus estimate of ($0.84) by $0.06. Equities research analysts forecast that Tourmaline Bio will post -2.99 earnings per share for the current fiscal year.

Tourmaline Bio Company Profile

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.