Tourmaline Bio (NASDAQ:TRML) Cut to "Neutral" at Wedbush

Key Points

• Tourmaline Bio's stock received a neutral rating from Wedbush, with a target price of $48.00, indicating a potential upside of 59.05% from its previous close.
• Other analysts, including Guggenheim and Chardan Capital, have given Tourmaline Bio a buy rating with target prices of $55.00 and $70.00, respectively.
• Institutional investors hold 91.89% of Tourmaline Bio's stock, reflecting significant interest from hedge funds and financial institutions in the company.

Wedbush cut shares of Tourmaline Bio (NASDAQ:TRML - Free Report) from an outperform rating to a neutral rating in a research report sent to investors on Tuesday morning, Marketbeat.com reports. They currently have $48.00 price objective on the stock.

Several other equities research analysts also recently weighed in on the company. Guggenheim reissued a "buy" rating and issued a $55.00 price objective on shares of Tourmaline Bio in a report on Thursday, August 14th. Chardan Capital reiterated a "buy" rating and set a $70.00 target price on shares of Tourmaline Bio in a research note on Thursday, August 14th. Two equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $45.85.

Tourmaline Bio Price Performance

Shares of TRML stock traded up $0.01 during trading hours on Tuesday, hitting $47.61. The stock had a trading volume of 988,444 shares, compared to its average volume of 1,560,002. The firm has a market capitalization 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. The stock's 50 day moving average is $23.54 and its 200 day moving average is $18.62.

Tourmaline Bio (NASDAQ:TRML - Get Free Report) last posted its quarterly earnings data on Wednesday, August 13th. The company reported ($0.90) earnings per share for the quarter, beating the consensus estimate of ($0.94) by $0.04. As a group, equities analysts predict that Tourmaline Bio will post -3.02 earnings per share for the current year.

Institutional Investors Weigh In On Tourmaline Bio

Several hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC lifted its position in Tourmaline Bio by 297.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,646 shares of the company's stock valued at $33,000 after purchasing an additional 1,232 shares during the period. BNP Paribas Financial Markets lifted its position in Tourmaline Bio by 34.1% in the second 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 during the period. Tower Research Capital LLC TRC lifted its position in Tourmaline Bio by 35.7% in the second 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 during the period. Brooklyn Investment Group lifted its position in 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 during the period. Finally, GAMMA Investing LLC lifted its position in 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 during the period. Institutional investors and hedge funds own 91.89% of the company's stock.

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.