Brokerages Set Tourmaline Bio, Inc. (NASDAQ:TRML) Price Target at $49.33

Tourmaline Bio, Inc. (NASDAQ:TRML - Get Free Report) has been given a consensus rating of "Buy" by the seven brokerages that are currently covering the company, MarketBeat reports. Seven equities research analysts have rated the stock with a buy rating. The average 12-month price target among analysts that have covered the stock in the last year is $49.33.

A number of analysts have weighed in on TRML shares. Wedbush raised their target price on shares of Tourmaline Bio from $42.00 to $43.00 and gave the company an "outperform" rating in a research report on Friday, March 14th. HC Wainwright reissued a "buy" rating and set a $50.00 price objective on shares of Tourmaline Bio in a report on Monday, May 5th. Finally, Chardan Capital restated a "buy" rating and set a $70.00 price objective on shares of Tourmaline Bio in a research report on Monday, May 5th.

Tourmaline Bio Stock Down 1.0%

Shares of NASDAQ:TRML traded down $0.17 during midday trading on Tuesday, hitting $16.54. The stock had a trading volume of 443,360 shares, compared to its average volume of 274,213. The company's 50-day moving average price is $16.89 and its 200-day moving average price is $16.72. Tourmaline Bio has a fifty-two week low of $11.56 and a fifty-two week high of $29.79. The company has a market capitalization of $424.75 million, a P/E ratio of -5.15 and a beta of 2.04.

Tourmaline Bio (NASDAQ:TRML - Get Free Report) last posted its earnings results on Friday, May 2nd. The company reported ($0.89) EPS for the quarter, topping analysts' consensus estimates of ($0.91) by $0.02. Research analysts expect that Tourmaline Bio will post -3.02 EPS for the current fiscal year.

Hedge Funds Weigh In On Tourmaline Bio

A number of institutional investors and hedge funds have recently made changes to their positions in TRML. Rhumbline Advisers increased its holdings in shares of Tourmaline Bio by 2.1% during the fourth quarter. Rhumbline Advisers now owns 35,591 shares of the company's stock valued at $722,000 after acquiring an additional 718 shares in the last quarter. Invesco Ltd. grew its position in Tourmaline Bio by 10.8% in the 4th quarter. Invesco Ltd. now owns 12,155 shares of the company's stock valued at $247,000 after purchasing an additional 1,181 shares during the period. Tower Research Capital LLC TRC raised 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 lifted its stake in shares of Tourmaline Bio by 3.9% in the first quarter. SG Americas Securities LLC now owns 36,180 shares of the company's stock valued at $550,000 after buying an additional 1,368 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of 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 valued at $291,000 after buying an additional 1,598 shares during 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.