Tourmaline Bio (NASDAQ:TRML) Trading Down 2.1% - Should You Sell?

Tourmaline Bio, Inc. (NASDAQ:TRML - Get Free Report) shares were down 2.1% on Tuesday . The stock traded as low as $18.33 and last traded at $18.56. Approximately 113,467 shares were traded during trading, a decline of 56% from the average daily volume of 255,236 shares. The stock had previously closed at $18.96.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on TRML shares. HC Wainwright reissued a "buy" rating and set a $50.00 price objective on shares of Tourmaline Bio in a report on Monday, May 5th. Chardan Capital reissued a "buy" rating and set a $70.00 price objective on shares of Tourmaline Bio in a report on Monday, May 5th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Tourmaline Bio presently has a consensus rating of "Buy" and an average price target of $49.33.

Tourmaline Bio Stock Up 2.4%

The firm has a market capitalization of $489.33 million, a PE ratio of -5.94 and a beta of 2.00. The stock's fifty day simple moving average is $17.08 and its 200 day simple moving average is $16.25.

Tourmaline Bio (NASDAQ:TRML - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The company reported ($0.89) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.91) by $0.02. On average, analysts predict that Tourmaline Bio, Inc. will post -3.02 EPS for the current year.

Institutional Trading of Tourmaline Bio

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Swiss National Bank purchased a new position in Tourmaline Bio during the fourth quarter valued at $408,000. American Century Companies Inc. bought a new position in Tourmaline Bio during the fourth quarter valued at $474,000. KLP Kapitalforvaltning AS bought a new position in Tourmaline Bio during the fourth quarter valued at $47,000. Vanguard Group Inc. lifted its position in Tourmaline Bio by 4.1% during the fourth quarter. Vanguard Group Inc. now owns 1,106,125 shares of the company's stock valued at $22,432,000 after purchasing an additional 43,652 shares during the last quarter. Finally, Pictet Asset Management Holding SA lifted its position in Tourmaline Bio by 69.9% during the fourth quarter. Pictet Asset Management Holding SA now owns 419,883 shares of the company's stock valued at $8,515,000 after purchasing an additional 172,743 shares during the last quarter. 91.89% of the stock is owned by hedge funds and other 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.