BML Capital Management LLC Takes Position in Tourmaline Bio, Inc. (NASDAQ:TRML)

BML Capital Management LLC bought a new stake in shares of Tourmaline Bio, Inc. (NASDAQ:TRML - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 245,500 shares of the company's stock, valued at approximately $6,427,000. Tourmaline Bio comprises 4.9% of BML Capital Management LLC's investment portfolio, making the stock its 5th largest holding. BML Capital Management LLC owned approximately 1.21% of Tourmaline Bio at the end of the most recent quarter.

Tourmaline Bio Stock Performance

NASDAQ:TRML traded up $0.32 on Wednesday, reaching $15.41. 1,778,852 shares of the company's stock traded hands, compared to its average volume of 385,565. The stock's 50-day moving average is $30.58. The stock has a market capitalization of $395.27 million, a price-to-earnings ratio of -1.36 and a beta of 2.33. Tourmaline Bio, Inc. has a 12 month low of $9.18 and a 12 month high of $48.31.

Tourmaline Bio (NASDAQ:TRML - Get Free Report) last posted its quarterly earnings results on Tuesday, March 19th. The company reported ($0.81) EPS for the quarter, missing analysts' consensus estimates of ($0.75) by ($0.06). As a group, sell-side analysts expect that Tourmaline Bio, Inc. will post -2.9 EPS for the current year.

Analysts Set New Price Targets

TRML has been the topic of several research analyst reports. HC Wainwright reissued a "buy" rating and set a $48.00 price target on shares of Tourmaline Bio in a report on Wednesday, March 20th. Jefferies Financial Group increased their price target on Tourmaline Bio from $41.00 to $72.00 and gave the company a "buy" rating in a report on Wednesday, March 20th. Finally, Truist Financial reissued a "buy" rating and set a $74.00 price target on shares of Tourmaline Bio in a report on Monday, March 25th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $61.80.

Insider Buying and Selling

In related news, Director Mark Mcdade purchased 100,000 shares of the company's stock in a transaction that occurred on Monday, January 29th. The stock was bought at an average price of $32.50 per share, for a total transaction of $3,250,000.00. Following the completion of the transaction, the director now owns 448,431 shares in the company, valued at approximately $14,574,007.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 16.50% of the stock is currently owned by company insiders.

Tourmaline Bio 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.