Guggenheim Reiterates "Neutral" Rating for Tourmaline Bio (NASDAQ:TRML)

Key Points

• Guggenheim reissued a "neutral" rating for Tourmaline Bio and adjusted its price target to $48.00, indicating a slight potential upside of 0.76% from the stock's previous close.
• Other analysts, including Wedbush and HC Wainwright, also lowered their ratings to "neutral" and set the same price target of $48.00.
• Tourmaline Bio's stock has experienced significant volatility, moving up by 57.9%, with its current trading price opening at $47.64.

Guggenheim restated their neutral rating on shares of Tourmaline Bio (NASDAQ:TRML - Free Report) in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has a $48.00 price objective on the stock, down from their prior price objective of $55.00.

Several other research firms have also issued reports on TRML. Chardan Capital lowered shares of Tourmaline Bio from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $70.00 to $48.00 in a research note on Wednesday. Wedbush lowered shares of Tourmaline Bio from an "outperform" rating to a "neutral" rating and set a $48.00 target price on the stock. in a research note on Tuesday. HC Wainwright lowered shares of Tourmaline Bio from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $50.00 to $48.00 in a research note on Wednesday. Jefferies Financial Group lowered shares of Tourmaline Bio from a "buy" rating to a "hold" rating and lowered their target price for the stock from $64.00 to $47.50 in a research note on Tuesday. Finally, Lifesci Capital lowered shares of Tourmaline Bio from an "outperform" rating to a "hold" rating and set a $48.00 target price on the stock. in a research note on Tuesday. Two equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $45.85.

Tourmaline Bio Stock Performance

Shares of NASDAQ TRML traded up $0.01 during mid-day trading on Wednesday, hitting $47.61. The stock had a trading volume of 988,444 shares, compared to its average volume of 1,560,002. The company has a 50 day moving average of $23.54 and a two-hundred day moving average of $18.58. The firm has a market cap of $1.22 billion, a PE ratio of -13.88 and a beta of 2.04. Tourmaline Bio has a twelve month low of $11.56 and a twelve month high of $47.70.

Tourmaline Bio (NASDAQ:TRML - Get Free Report) last announced its quarterly 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. Equities research analysts predict that Tourmaline Bio will post -3.02 EPS for the current fiscal year.

Institutional Trading of Tourmaline Bio

A number of hedge funds have recently bought and sold shares of TRML. Tower Research Capital LLC TRC increased its holdings in shares of Tourmaline Bio by 297.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,646 shares of the company's stock worth $33,000 after buying an additional 1,232 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of 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 buying an additional 535 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of 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 during the last quarter. Brooklyn Investment Group increased its holdings in shares of Tourmaline Bio by 148.9% during the 1st quarter. Brooklyn Investment Group now owns 3,923 shares of the company's stock worth $60,000 after buying an additional 2,347 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Tourmaline Bio by 4,481.7% during the 1st quarter. GAMMA Investing LLC now owns 7,514 shares of the company's stock worth $114,000 after buying an additional 7,350 shares during the last quarter. Institutional investors and hedge funds own 91.89% of the company's stock.

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.