Shares of Tourmaline Bio, Inc. (NASDAQ:TRML - Get Free Report) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $47.79 and last traded at $47.75, with a volume of 633076 shares trading hands. The stock had previously closed at $47.73.
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on TRML shares. Guggenheim reissued a "neutral" rating and set a $48.00 price target (down from $55.00) on shares of Tourmaline Bio in a report on Wednesday, September 10th. Jefferies Financial Group lowered Tourmaline Bio from a "buy" rating to a "hold" rating and cut their price objective for the company from $64.00 to $47.50 in a research report on Tuesday, September 9th. Piper Sandler downgraded shares of Tourmaline Bio from an "overweight" rating to a "neutral" rating and lowered their price target for the company from $65.00 to $48.00 in a report on Thursday, September 11th. Wedbush downgraded shares of Tourmaline Bio from an "outperform" rating to a "neutral" rating and set a $48.00 price target for the company. in a report on Tuesday, September 9th. Finally, HC Wainwright downgraded Tourmaline Bio from a "buy" rating to a "neutral" rating and cut their price objective for the company from $50.00 to $48.00 in a research report on Wednesday, September 10th. One investment analyst has rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $45.65.
Check Out Our Latest Report on Tourmaline Bio
Tourmaline Bio Price Performance
The company's fifty day simple moving average is $26.61 and its 200-day simple moving average is $19.87. 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 released its quarterly earnings results on Wednesday, August 13th. The company reported ($0.90) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.94) by $0.04. As a group, equities research analysts anticipate that Tourmaline Bio, Inc. will post -3.02 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Tourmaline Bio
A number of large investors have recently made changes to their positions in TRML. Octagon Capital Advisors LP purchased a new stake in shares of Tourmaline Bio during the first quarter valued at $13,765,000. QVT Financial LP grew its holdings in shares of Tourmaline Bio by 107.1% during the first quarter. QVT Financial LP now owns 1,473,369 shares of the company's stock valued at $22,410,000 after buying an additional 762,094 shares during the last quarter. Nan Fung Trinity HK Ltd. purchased a new stake in shares of Tourmaline Bio during the second quarter valued at $3,631,000. Federated Hermes Inc. grew its holdings in shares of Tourmaline Bio by 13,036.0% during the first quarter. Federated Hermes Inc. now owns 121,245 shares of the company's stock valued at $1,844,000 after buying an additional 120,322 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of 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 last quarter. 91.89% of the stock is owned by hedge funds and other institutional investors.
About Tourmaline Bio
(
Get Free Report)
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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