Tourmaline Bio, Inc. (NASDAQ:TRML) Given Average Rating of "Hold" by Brokerages

Key Points

• Tourmaline Bio, Inc. (NASDAQ:TRML) has received an average rating of "Buy" from analysts, with seven analysts specifically rating the stock as a buy.
• The average 12-month price target set by analysts for Tourmaline Bio is $50.14, indicating significant potential upside from its current stock price.
• Institutional investors hold 91.89% of Tourmaline Bio's stock, reflecting strong interest and investment from large financial institutions.

Shares of Tourmaline Bio, Inc. (NASDAQ:TRML - Get Free Report) have earned a consensus rating of "Hold" from the ten research firms that are covering the company, Marketbeat Ratings reports. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $45.85.

Several equities analysts have commented on the company. Piper Sandler reaffirmed a "neutral" rating and issued a $48.00 price target (down previously from $65.00) on shares of Tourmaline Bio in a report on Thursday. Jefferies Financial Group cut Tourmaline Bio from a "buy" rating to a "hold" rating and lowered their price objective for the company from $64.00 to $47.50 in a research report on Tuesday. Chardan Capital cut Tourmaline Bio from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $70.00 to $48.00 in a research report on Wednesday. Guggenheim reiterated a "neutral" rating and set a $48.00 price target (down previously from $55.00) on shares of Tourmaline Bio in a research note on Wednesday. Finally, Truist Financial cut shares of Tourmaline Bio from a "buy" rating to a "hold" rating and dropped their price objective for the company from $63.00 to $48.00 in a research note on Wednesday.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC boosted its holdings in Tourmaline Bio by 297.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,646 shares of the company's stock valued at $33,000 after purchasing an additional 1,232 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of Tourmaline Bio by 34.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,103 shares of the company's stock worth $34,000 after buying an additional 535 shares during the period. Tower Research Capital LLC TRC boosted its stake in Tourmaline Bio by 35.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,214 shares of the company's stock valued at $51,000 after buying an additional 846 shares in the last quarter. Brooklyn Investment Group boosted its stake in Tourmaline Bio by 148.9% in the 1st quarter. Brooklyn Investment Group now owns 3,923 shares of the company's stock valued at $60,000 after buying an additional 2,347 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in Tourmaline Bio by 4,481.7% in the first quarter. GAMMA Investing LLC now owns 7,514 shares of the company's stock valued at $114,000 after acquiring an additional 7,350 shares during the period. Institutional investors own 91.89% of the company's stock.

Tourmaline Bio Price Performance

Shares of TRML remained flat at $47.60 during mid-day trading on Friday. The stock had a trading volume of 1,714,490 shares, compared to its average volume of 1,479,916. Tourmaline Bio has a 12 month low of $11.56 and a 12 month high of $47.69. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of -13.88 and a beta of 2.04. The business has a 50 day moving average of $22.92 and a 200-day moving average of $18.34.

Tourmaline Bio (NASDAQ:TRML - Get Free Report) last announced its earnings results on Wednesday, August 13th. The company reported ($0.90) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.94) by $0.04. Research analysts expect that Tourmaline Bio will post -3.02 earnings per share for the current fiscal year.

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.