Tourmaline Bio (NASDAQ:TRML) Given Buy Rating at Guggenheim

Key Points

• Guggenheim reaffirmed a "buy" rating for Tourmaline Bio (NASDAQ: TRML) with a price target of $55.00, suggesting a potential upside of 150.22% from its current price.
• Tourmaline Bio's stock had a recent trading volume of 728 shares and closed at $21.98, with a market cap of approximately $564.47 million.
• Institutional investors own 91.89% of Tourmaline Bio, with notable increases in stakes from several firms, highlighting strong institutional support.

Tourmaline Bio (NASDAQ:TRML - Get Free Report)'s stock had its "buy" rating restated by Guggenheim in a note issued to investors on Thursday,Benzinga reports. They currently have a $55.00 price objective on the stock. Guggenheim's price objective indicates a potential upside of 149.72% from the company's current price.

TRML has been the subject of several other research reports. HC Wainwright reaffirmed 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 reissued a "buy" rating and issued a $70.00 target price on shares of Tourmaline Bio in a report on Monday, May 5th. Seven analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $50.14.

Tourmaline Bio Price Performance

TRML stock traded down $0.1450 during trading on Thursday, hitting $22.0250. 48,670 shares of the stock traded hands, compared to its average volume of 289,651. The stock has a market cap of $565.60 million, a price-to-earnings ratio of -6.42 and a beta of 2.04. The firm's 50 day moving average is $19.12 and its two-hundred day moving average is $16.61. Tourmaline Bio has a 1 year low of $11.56 and a 1 year high of $29.79.

Tourmaline Bio (NASDAQ:TRML - Get Free Report) last issued its earnings results on Wednesday, August 13th. The company reported ($0.90) EPS for the quarter, beating the consensus estimate of ($0.94) by $0.04. As a group, analysts anticipate that Tourmaline Bio will post -3.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TRML. Tower Research Capital LLC TRC grew 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 acquiring an additional 1,232 shares during the last quarter. BNP Paribas Financial Markets grew its position in Tourmaline Bio by 34.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,103 shares of the company's stock worth $34,000 after purchasing an additional 535 shares during 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 valued at $51,000 after purchasing an additional 846 shares in the last quarter. Brooklyn Investment Group grew its holdings in shares of Tourmaline Bio by 148.9% during the first quarter. Brooklyn Investment Group now owns 3,923 shares of the company's stock valued at $60,000 after buying an additional 2,347 shares during the last quarter. Finally, Virtus ETF Advisers LLC acquired a new stake in Tourmaline Bio during the 4th quarter worth about $64,000. 91.89% of the stock is owned by institutional investors and hedge funds.

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.