Shares of Tourmaline Bio, Inc. (NASDAQ:TRML - Get Free Report) hit a new 52-week high on Monday . The stock traded as high as $47.79 and last traded at $47.75, with a volume of 633076 shares. The stock had previously closed at $47.73.
Analyst Upgrades and Downgrades
TRML has been the topic of several analyst reports. HC Wainwright downgraded Tourmaline Bio from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $50.00 to $48.00 in a report on Wednesday, September 10th. Truist Financial downgraded Tourmaline Bio from a "buy" rating to a "hold" rating and lowered their target price for the company from $63.00 to $48.00 in a report on Wednesday, September 10th. Jefferies Financial Group cut Tourmaline Bio from a "buy" rating to a "hold" rating and reduced their price target for the stock from $64.00 to $47.50 in a research report on Tuesday, September 9th. Wedbush lowered Tourmaline Bio from an "outperform" rating to a "neutral" rating and set a $48.00 price target for the company. in a research note on Tuesday, September 9th. Finally, Piper Sandler lowered Tourmaline Bio from an "overweight" rating to a "neutral" rating and dropped their price target for the company from $65.00 to $48.00 in a research note on Thursday, September 11th. One equities research analyst has rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $45.65.
Get Our Latest Report on TRML
Tourmaline Bio Stock Performance
The stock has a fifty day moving average price of $27.18 and a 200-day moving average price of $20.11. The firm has a market capitalization of $1.23 billion, a PE ratio of -13.92 and a beta of 2.04.
Tourmaline Bio (NASDAQ:TRML - Get Free Report) last announced its earnings results on Wednesday, August 13th. The company reported ($0.90) earnings per share for the quarter, topping the consensus estimate of ($0.94) by $0.04. Research analysts expect that Tourmaline Bio, Inc. will post -3.02 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Tourmaline Bio
Institutional investors and hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets increased its stake in shares of Tourmaline Bio by 34.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,103 shares of the company's stock valued at $34,000 after purchasing an additional 535 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Tourmaline Bio by 35.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,214 shares of the company's stock worth $51,000 after buying an additional 846 shares in the last quarter. Brooklyn Investment Group grew its position in shares of Tourmaline Bio by 148.9% in the first quarter. Brooklyn Investment Group now owns 3,923 shares of the company's stock valued at $60,000 after purchasing an additional 2,347 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Tourmaline Bio by 4,481.7% in the first quarter. GAMMA Investing LLC now owns 7,514 shares of the company's stock valued at $114,000 after purchasing an additional 7,350 shares in the last quarter. Finally, Hsbc Holdings PLC purchased a new stake in shares of Tourmaline Bio in the first quarter valued at approximately $158,000. Hedge funds and other institutional investors own 91.89% of the company's stock.
About Tourmaline Bio
(
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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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