Tourmaline Bio (NASDAQ:TRML) Stock Rating Lowered by 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 note issued to investors on Tuesday, MarketBeat.com reports. They currently have $48.00 price target on the stock.

A number of other equities analysts also recently weighed in on TRML. Guggenheim reaffirmed a "buy" rating and set a $55.00 target price on shares of Tourmaline Bio in a research note on Thursday, August 14th. Chardan Capital reiterated a "buy" rating and set a $70.00 price target on shares of Tourmaline Bio in a research note on Thursday, August 14th. Two investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat, Tourmaline Bio has an average rating of "Hold" and a consensus target price of $45.85.

Tourmaline Bio Stock Up 0.0%

NASDAQ:TRML traded up $0.01 during midday trading on Tuesday, hitting $47.61. The company had a trading volume of 988,444 shares, compared to its average volume of 444,141. The stock's fifty day moving average price is $22.92 and its 200-day moving average price is $18.34. Tourmaline Bio has a 52-week low of $11.56 and a 52-week high of $47.70. The company has a market capitalization of $1.22 billion, a PE ratio of -13.88 and a beta of 2.04.

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

Institutional Trading of Tourmaline Bio

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC increased its holdings in shares of Tourmaline Bio by 297.6% in 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. Northern Trust Corp increased its holdings in shares of Tourmaline Bio by 7.1% in the 4th quarter. Northern Trust Corp now owns 204,786 shares of the company's stock worth $4,153,000 after buying an additional 13,603 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Tourmaline Bio by 87.6% in the 4th quarter. Bank of America Corp DE now owns 70,737 shares of the company's stock worth $1,435,000 after buying an additional 33,028 shares during the last quarter. Deutsche Bank AG grew its holdings in Tourmaline Bio by 54.1% during the 4th quarter. Deutsche Bank AG now owns 20,008 shares of the company's stock valued at $406,000 after purchasing an additional 7,025 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Tourmaline Bio by 12.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,378 shares of the company's stock valued at $291,000 after purchasing an additional 1,598 shares during the last quarter. 91.89% of the stock is currently owned by institutional investors.

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.