Tourmaline Bio, Inc. (NASDAQ:TRML) Given Consensus Recommendation of "Buy" by Brokerages

Key Points

• Tourmaline Bio, Inc. has received a consensus rating of "Buy" from seven analysts, with an average price target of $49.33.
• Institutional investors continue to increase their holdings in Tourmaline Bio, with notable increases from firms like Invesco and Tower Research Capital.
• The company's stock price recently rose 2.3% and currently trades at approximately $21.48, with a market capitalization of $551.61 million.

Shares of Tourmaline Bio, Inc. (NASDAQ:TRML - Get Free Report) have been assigned a consensus rating of "Buy" from the seven analysts that are presently covering the stock, Marketbeat reports. Seven analysts have rated the stock with a buy rating. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $49.3333.

A number of research firms have weighed in on TRML. Chardan Capital reaffirmed a "buy" rating and issued a $70.00 price objective on shares of Tourmaline Bio in a research note on Monday, May 5th. HC Wainwright reaffirmed a "buy" rating and issued a $50.00 price objective on shares of Tourmaline Bio in a research note on Monday, May 5th.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Invesco Ltd. increased its holdings in Tourmaline Bio by 10.8% during the fourth quarter. Invesco Ltd. now owns 12,155 shares of the company's stock worth $247,000 after buying an additional 1,181 shares during the last quarter. Tower Research Capital LLC TRC increased 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 worth $33,000 after buying an additional 1,232 shares during the last quarter. SG Americas Securities LLC increased its holdings in Tourmaline Bio by 3.9% during the first quarter. SG Americas Securities LLC now owns 36,180 shares of the company's stock worth $550,000 after buying an additional 1,368 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Tourmaline Bio by 12.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,378 shares of the company's stock worth $291,000 after buying an additional 1,598 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Tourmaline Bio by 2.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 65,850 shares of the company's stock worth $1,002,000 after buying an additional 1,791 shares during the last quarter. 91.89% of the stock is owned by institutional investors.

Tourmaline Bio Trading Up 2.3%

Tourmaline Bio stock opened at $21.48 on Wednesday. Tourmaline Bio has a 1-year low of $11.56 and a 1-year high of $29.79. The firm has a market capitalization of $551.61 million, a price-to-earnings ratio of -6.69 and a beta of 2.04. The firm's fifty day moving average price is $18.84 and its two-hundred day moving average price is $16.45.

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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