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

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.

Tourmaline Bio, Inc. (NASDAQ:TRML - Get Free Report) has earned an average rating of "Buy" from the seven analysts that are currently covering the firm, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a buy rating. The average twelve-month price objective among analysts that have covered the stock in the last year is $50.1429.

A number of equities research analysts have issued reports on the stock. Chardan Capital reissued a "buy" rating and issued a $70.00 price target on shares of Tourmaline Bio in a report on Thursday, August 14th. Guggenheim reissued a "buy" rating and issued a $55.00 price target on shares of Tourmaline Bio in a report on Thursday, August 14th.

Tourmaline Bio Stock Up 6.5%

Shares of NASDAQ:TRML opened at $26.74 on Friday. The stock has a market cap of $686.95 million, a PE ratio of -7.80 and a beta of 2.04. The company's fifty day moving average is $20.75 and its 200 day moving average is $17.52. Tourmaline Bio has a 52 week low of $11.56 and a 52 week high of $29.79.

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

Institutional Investors Weigh In On Tourmaline Bio

Large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in Tourmaline Bio by 4,481.7% in the 1st quarter. GAMMA Investing LLC now owns 7,514 shares of the company's stock worth $114,000 after acquiring an additional 7,350 shares during the last quarter. Nuveen Asset Management LLC boosted its stake in shares of Tourmaline Bio by 21.5% during the 4th quarter. Nuveen Asset Management LLC now owns 76,245 shares of the company's stock valued at $1,546,000 after purchasing an additional 13,504 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Tourmaline Bio by 3.9% during the 1st quarter. SG Americas Securities LLC now owns 36,180 shares of the company's stock valued at $550,000 after purchasing an additional 1,368 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Tourmaline Bio by 87.6% during the 4th quarter. Bank of America Corp DE now owns 70,737 shares of the company's stock valued at $1,435,000 after purchasing an additional 33,028 shares in the last quarter. Finally, Deutsche Bank AG boosted its stake in shares of Tourmaline Bio by 54.1% during the 4th quarter. Deutsche Bank AG now owns 20,008 shares of the company's stock valued at $406,000 after purchasing an additional 7,025 shares in the last quarter. 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.

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