Tourmaline Bio (NASDAQ:TRML) Now Covered by Analysts at Wedbush

Equities researchers at Wedbush began coverage on shares of Tourmaline Bio (NASDAQ:TRML - Get Free Report) in a research report issued to clients and investors on Thursday, MarketBeat reports. The firm set an "outperform" rating and a $42.00 price target on the stock. Wedbush's price target suggests a potential upside of 186.69% from the company's current price.

A number of other analysts have also commented on the stock. BMO Capital Markets began coverage on shares of Tourmaline Bio in a research report on Friday, December 6th. They issued an "outperform" rating and a $50.00 price objective on the stock. 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. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $25.00 target price on shares of Tourmaline Bio in a research report on Wednesday, December 11th. Lifesci Capital started coverage on Tourmaline Bio in a research report on Monday, February 24th. They set an "outperform" rating and a $58.00 price target for the company. Finally, Guggenheim reaffirmed a "buy" rating on shares of Tourmaline Bio in a research report on Wednesday, December 11th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Tourmaline Bio presently has a consensus rating of "Buy" and a consensus price target of $52.86.

Tourmaline Bio Trading Up 1.9 %

Shares of Tourmaline Bio stock traded up $0.27 during trading on Thursday, reaching $14.65. The stock had a trading volume of 236,148 shares, compared to its average volume of 280,692. The company has a market capitalization of $375.67 million, a price-to-earnings ratio of -5.20 and a beta of 2.35. The stock has a fifty day moving average price of $16.10 and a two-hundred day moving average price of $20.87. Tourmaline Bio has a 52 week low of $11.87 and a 52 week high of $48.31.

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Institutional Investors Weigh In On Tourmaline Bio

Large investors have recently added to or reduced their stakes in the business. Woodline Partners LP increased its holdings in shares of Tourmaline Bio by 1.6% in the fourth quarter. Woodline Partners LP now owns 161,721 shares of the company's stock valued at $3,280,000 after purchasing an additional 2,567 shares during the last quarter. Velan Capital Investment Management LP boosted its holdings in shares of Tourmaline Bio by 28.0% during the 4th quarter. Velan Capital Investment Management LP now owns 423,795 shares of the company's stock worth $8,595,000 after buying an additional 92,605 shares during the period. Wexford Capital LP acquired a new position in Tourmaline Bio in the 4th quarter valued at about $418,000. Stempoint Capital LP raised its holdings in Tourmaline Bio by 127.7% in the 4th quarter. Stempoint Capital LP now owns 126,400 shares of the company's stock valued at $2,563,000 after acquiring an additional 70,877 shares during the period. Finally, Rafferty Asset Management LLC acquired a new stake in Tourmaline Bio during the fourth quarter worth approximately $605,000. Institutional investors 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.