Tourmaline Bio (NASDAQ:TRML) Price Target Raised to $72.00

Tourmaline Bio (NASDAQ:TRML - Free Report) had its price objective lifted by Jefferies Financial Group from $41.00 to $72.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts also recently issued research reports about the stock. Leerink Partnrs restated an outperform rating on shares of Tourmaline Bio in a research note on Thursday, December 7th. HC Wainwright restated a buy rating and issued a $48.00 target price on shares of Tourmaline Bio in a research note on Wednesday. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of Buy and a consensus price target of $55.60.

Tourmaline Bio Stock Down 36.0 %

TRML stock traded down $16.06 on Wednesday, reaching $28.61. 4,936,265 shares of the company were exchanged, compared to its average volume of 316,825. Tourmaline Bio has a 12 month low of $9.18 and a 12 month high of $48.31. The company has a fifty day simple moving average of $37.62. The stock has a market capitalization of $581.93 million, a price-to-earnings ratio of -2.42 and a beta of 2.45.

Insider Buying and Selling

In related news, Director Mark Mcdade purchased 100,000 shares of Tourmaline Bio stock in a transaction that occurred on Monday, January 29th. The shares were acquired at an average price of $32.50 per share, for a total transaction of $3,250,000.00. Following the transaction, the director now directly owns 448,431 shares in the company, valued at $14,574,007.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 16.50% of the stock is owned by corporate insiders.

Institutional Trading of Tourmaline Bio

Several institutional investors and hedge funds have recently added to or reduced their stakes in TRML. Goldman Sachs Group Inc. bought a new stake in shares of Tourmaline Bio in the 4th quarter valued at about $236,000. Jump Financial LLC bought a new stake in shares of Tourmaline Bio in the 4th quarter valued at about $380,000. Cubist Systematic Strategies LLC bought a new stake in shares of Tourmaline Bio in the 4th quarter valued at about $399,000. Dimensional Fund Advisors LP bought a new stake in shares of Tourmaline Bio in the 4th quarter valued at about $546,000. Finally, Northern Trust Corp bought a new stake in shares of Tourmaline Bio in the 4th quarter valued at about $586,000. 67.61% of the stock is owned by institutional investors.

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.