Tourmaline Bio, Inc. (NASDAQ:TRML) Receives $45.20 Consensus PT from Analysts

Shares of Tourmaline Bio, Inc. (NASDAQ:TRML - Get Free Report) have been assigned a consensus recommendation of "Buy" from the six ratings firms that are covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a buy recommendation. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $45.20.

A number of analysts have recently weighed in on TRML shares. Wedbush raised their target price on shares of Tourmaline Bio from $42.00 to $43.00 and gave the stock an "outperform" rating in a report on Friday, March 14th. HC Wainwright lifted their price target on Tourmaline Bio from $49.00 to $50.00 and gave the company a "buy" rating in a research note on Friday, March 14th. Finally, Lifesci Capital began coverage on Tourmaline Bio in a research report on Monday, February 24th. They set an "outperform" rating and a $58.00 price target on the stock.

Tourmaline Bio Trading Up 6.0 %

Shares of TRML traded up $0.84 during midday trading on Thursday, hitting $14.93. 419,373 shares of the company's stock traded hands, compared to its average volume of 279,650. The stock has a market capitalization of $383.48 million, a price-to-earnings ratio of -5.29 and a beta of 2.14. Tourmaline Bio has a 1 year low of $11.56 and a 1 year high of $29.79. The firm's fifty day moving average is $14.28 and its 200-day moving average is $20.06.

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Tourmaline Bio (NASDAQ:TRML - Get Free Report) last released its quarterly earnings results on Thursday, March 13th. The company reported ($0.86) EPS for the quarter, beating analysts' consensus estimates of ($0.91) by $0.05. The business had revenue of $0.04 million during the quarter. On average, equities research analysts anticipate that Tourmaline Bio will post -3.02 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Brooklyn Investment Group acquired a new stake in Tourmaline Bio in the 4th quarter worth about $32,000. Tower Research Capital LLC TRC lifted its position in shares of Tourmaline Bio by 297.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,646 shares of the company's stock valued at $33,000 after acquiring an additional 1,232 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Tourmaline Bio in the fourth quarter worth approximately $47,000. Virtus ETF Advisers LLC purchased a new stake in shares of Tourmaline Bio during the fourth quarter worth approximately $64,000. Finally, GAMMA Investing LLC raised its stake in Tourmaline Bio by 4,481.7% in the 1st quarter. GAMMA Investing LLC now owns 7,514 shares of the company's stock valued at $114,000 after purchasing an additional 7,350 shares during the last quarter. Institutional investors and hedge funds own 91.89% of the company's stock.

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.