Tourmaline Bio, Inc. (NASDAQ:TRML - Get Free Report) has been given a consensus recommendation of "Buy" by the seven research firms that are currently covering the company, MarketBeat Ratings reports. Seven analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $49.33.
TRML has been the topic of a number of recent analyst reports. HC Wainwright reissued a "buy" rating and set a $50.00 price target on shares of Tourmaline Bio in a research report on Monday, May 5th. Chardan Capital restated a "buy" rating and set a $70.00 target price on shares of Tourmaline Bio in a research note on Monday, May 5th.
Get Our Latest Report on TRML
Tourmaline Bio Trading Up 3.5%
Tourmaline Bio stock traded up $0.63 during trading hours on Friday, hitting $18.86. The stock had a trading volume of 82,663 shares, compared to its average volume of 254,019. The company has a 50-day moving average of $17.15 and a two-hundred day moving average of $16.18. Tourmaline Bio has a fifty-two week low of $11.56 and a fifty-two week high of $29.79.
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 the consensus estimate of ($0.91) by $0.02. As a group, equities analysts forecast that Tourmaline Bio will post -3.02 EPS for the current year.
Institutional Trading of Tourmaline Bio
Several institutional investors and hedge funds have recently modified their holdings of the stock. QVT Financial LP increased its stake in shares of Tourmaline Bio by 107.1% in the first quarter. QVT Financial LP now owns 1,473,369 shares of the company's stock worth $22,410,000 after acquiring an additional 762,094 shares during the period. Vanguard Group Inc. grew its position in Tourmaline Bio by 7.7% during the first quarter. Vanguard Group Inc. now owns 1,190,810 shares of the company's stock valued at $18,112,000 after buying an additional 84,685 shares during the period. Octagon Capital Advisors LP acquired a new stake in Tourmaline Bio during the first quarter valued at $13,765,000. Adage Capital Partners GP L.L.C. acquired a new stake in Tourmaline Bio during the fourth quarter valued at $12,168,000. Finally, Velan Capital Investment Management LP grew its position in Tourmaline Bio by 7.5% during the first quarter. Velan Capital Investment Management LP now owns 455,412 shares of the company's stock valued at $6,927,000 after buying an additional 31,617 shares during the period. Institutional investors own 91.89% of the company's stock.
About Tourmaline Bio
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Get Free ReportTourmaline 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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