Tourmaline Bio, Inc. (NASDAQ:TRML) Receives Consensus Recommendation of “Buy” from Analysts

Tourmaline Bio, Inc. (NASDAQ:TRML) has been assigned an average recommendation of “Buy” from the seven analysts that are covering the firm, Marketbeat reports. Seven research analysts have rated the stock with a buy recommendation. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $54.67.

A number of brokerages have weighed in on TRML. HC Wainwright reiterated a “buy” rating and issued a $49.00 price objective on shares of Tourmaline Bio in a research report on Wednesday, December 11th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $25.00 price objective on shares of Tourmaline Bio in a research report on Wednesday, December 11th. Guggenheim reiterated a “buy” rating on shares of Tourmaline Bio in a research report on Wednesday, December 11th. 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 for the company. Finally, Lifesci Capital began coverage on shares of Tourmaline Bio in a research report on Monday. They issued an “outperform” rating and a $58.00 price objective for the company.

Institutional Trading of Tourmaline Bio

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC grew its stake in Tourmaline Bio by 6.4% during the 3rd quarter. Geode Capital Management LLC now owns 482,078 shares of the company’s stock valued at $12,396,000 after acquiring an additional 29,005 shares in the last quarter. Wellington Management Group LLP grew its stake in Tourmaline Bio by 72.8% during the 3rd quarter. Wellington Management Group LLP now owns 65,741 shares of the company’s stock valued at $1,690,000 after acquiring an additional 27,707 shares in the last quarter. State Street Corp grew its stake in Tourmaline Bio by 25.6% during the 3rd quarter. State Street Corp now owns 411,980 shares of the company’s stock valued at $10,592,000 after acquiring an additional 83,949 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Tourmaline Bio by 3.5% during 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 in the last quarter. Finally, Barclays PLC grew its stake in Tourmaline Bio by 283.7% during the 3rd quarter. Barclays PLC now owns 31,833 shares of the company’s stock valued at $819,000 after acquiring an additional 23,536 shares in the last quarter. Hedge funds and other institutional investors own 91.89% of the company’s stock.

Tourmaline Bio Price Performance

NASDAQ TRML opened at $12.55 on Wednesday. The company has a market capitalization of $321.82 million, a PE ratio of -4.45 and a beta of 2.32. The company has a fifty day moving average of $17.35 and a 200 day moving average of $20.92. Tourmaline Bio has a 1 year low of $11.87 and a 1 year high of $48.31.

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.