Tourmaline Bio, Inc. (NASDAQ:TRML) Short Interest Up 16.3% in January

Tourmaline Bio, Inc. (NASDAQ:TRML - Get Free Report) was the recipient of a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 2,710,000 shares, an increase of 16.3% from the January 15th total of 2,330,000 shares. Based on an average trading volume of 248,100 shares, the days-to-cover ratio is currently 10.9 days. Approximately 17.4% of the shares of the stock are short sold.

Analyst Ratings Changes

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

Institutional Trading of Tourmaline Bio

Several institutional investors and hedge funds have recently made changes to their positions in TRML. China Universal Asset Management Co. Ltd. grew its stake in shares of Tourmaline Bio by 63.7% during the third quarter. China Universal Asset Management Co. Ltd. now owns 4,932 shares of the company's stock worth $127,000 after purchasing an additional 1,920 shares during the period. Quest Partners LLC boosted its holdings in Tourmaline Bio by 145.4% during the third quarter. Quest Partners LLC now owns 9,381 shares of the company's stock worth $241,000 after buying an additional 5,559 shares during the last quarter. Jennison Associates LLC grew its position in shares of Tourmaline Bio by 2.2% during the 3rd quarter. Jennison Associates LLC now owns 1,151,973 shares of the company's stock worth $29,617,000 after buying an additional 24,282 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Tourmaline Bio by 3.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 63,571 shares of the company's stock valued at $1,634,000 after acquiring an additional 2,147 shares during the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Tourmaline Bio in the 3rd quarter valued at approximately $226,000. Institutional investors own 91.89% of the company's stock.

Tourmaline Bio Stock Down 4.1 %

NASDAQ TRML traded down $0.55 during trading hours on Wednesday, hitting $12.60. The company's stock had a trading volume of 185,495 shares, compared to its average volume of 297,146. Tourmaline Bio has a twelve month low of $12.12 and a twelve month high of $48.31. The firm has a market capitalization of $322.94 million, a P/E ratio of -4.46 and a beta of 2.32. The stock has a fifty day moving average of $18.36 and a 200 day moving average of $20.99.

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.