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

Key Points

• Tourmaline Bio, Inc. has received an average rating of "Hold" from analysts, with nine hold ratings and one buy rating among the ten firms covering the stock.
• The average 12-month target price for Tourmaline Bio's stock is $45.65, reflecting recent downgrades from several analysts, including Jefferies and Wedbush.
• Institutional investors own 91.89% of Tourmaline Bio's stock, indicating significant institutional confidence in the company despite recent price adjustments.

Shares of Tourmaline Bio, Inc. (NASDAQ:TRML - Get Free Report) have been assigned an average recommendation of "Hold" from the ten ratings firms that are presently covering the firm, MarketBeat.com reports. Nine investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $45.65.

Several research analysts have issued reports on TRML shares. Jefferies Financial Group downgraded Tourmaline Bio from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $64.00 to $47.50 in a report on Tuesday, September 9th. Wedbush downgraded Tourmaline Bio from an "outperform" rating to a "neutral" rating and set a $48.00 price objective on the stock. in a report on Tuesday, September 9th. Chardan Capital downgraded Tourmaline Bio from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $70.00 to $48.00 in a report on Wednesday, September 10th. Truist Financial downgraded Tourmaline Bio from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $63.00 to $48.00 in a report on Wednesday, September 10th. Finally, HC Wainwright downgraded Tourmaline Bio from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $50.00 to $48.00 in a report on Wednesday, September 10th.

Tourmaline Bio Price Performance

Shares of TRML opened at $47.86 on Thursday. The company has a market capitalization of $1.23 billion, a P/E ratio of -13.95 and a beta of 2.26. Tourmaline Bio has a one year low of $11.56 and a one year high of $48.27. The business's 50 day simple moving average is $31.28 and its 200-day simple moving average is $21.57.

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

Institutional Trading of Tourmaline Bio

Institutional investors and hedge funds have recently made changes to their positions in the business. Hsbc Holdings PLC bought a new stake in shares of Tourmaline Bio during the 1st quarter valued at $158,000. GAMMA Investing LLC raised its position in shares of Tourmaline Bio by 4,481.7% during the 1st 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 last quarter. Nuveen Asset Management LLC raised its position 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 acquiring an additional 13,504 shares during the last quarter. SG Americas Securities LLC raised its position 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 acquiring an additional 1,368 shares during the last quarter. Finally, Wesbanco Bank Inc. bought a new stake in shares of Tourmaline Bio during the 2nd quarter valued at $416,000. 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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