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

Shares of Tourmaline Bio, Inc. (NASDAQ:TRML - Get Free Report) have earned an average recommendation of "Buy" from the seven brokerages that are presently covering the stock, Marketbeat reports. Seven investment analysts have rated the stock with a buy rating. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $49.33.

Several analysts recently commented on TRML shares. Chardan Capital reaffirmed a "buy" rating and issued a $70.00 price target 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 target on shares of Tourmaline Bio in a research note on Monday, May 5th.

Tourmaline Bio Stock Down 0.6%

Shares of TRML traded down $0.12 during midday trading on Friday, reaching $18.48. 120,341 shares of the stock were exchanged, compared to its average volume of 254,906. Tourmaline Bio has a 12-month low of $11.56 and a 12-month high of $29.79. The firm has a 50 day simple moving average of $17.15 and a 200-day simple moving average of $16.21. The company has a market cap of $474.57 million, a price-to-earnings ratio of -5.76 and a beta of 2.00.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of TRML. Invesco Ltd. increased its stake in shares of 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 purchasing an additional 1,181 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of 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 purchasing an additional 1,232 shares during the period. SG Americas Securities LLC increased its stake in shares of 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 purchasing an additional 1,368 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake 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 worth $291,000 after purchasing an additional 1,598 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of 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 purchasing an additional 1,791 shares during the period. 91.89% of the stock is owned by institutional investors and hedge funds.

About Tourmaline Bio

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.