Tourmaline Bio, Inc. (NASDAQ:TRML - Get Free Report)'s share price gapped up before the market opened on Tuesday . The stock had previously closed at $30.18, but opened at $47.62. Tourmaline Bio shares last traded at $47.68, with a volume of 12,741,396 shares trading hands.
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on TRML. Wedbush restated a "neutral" rating and set a $48.00 target price on shares of Tourmaline Bio in a report on Tuesday. Chardan Capital restated a "buy" rating and set a $70.00 target price on shares of Tourmaline Bio in a report on Thursday, August 14th. Finally, Guggenheim restated a "buy" rating and set a $55.00 target price on shares of Tourmaline Bio in a report on Thursday, August 14th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Tourmaline Bio has an average rating of "Moderate Buy" and an average target price of $50.86.
Check Out Our Latest Report on TRML
Tourmaline Bio Stock Up 57.9%
The firm has a fifty day moving average price of $21.04 and a two-hundred day moving average price of $17.68. The stock has a market capitalization of $1.22 billion, a P/E ratio of -13.89 and a beta of 2.04.
Tourmaline Bio (NASDAQ:TRML - Get Free Report) last issued its quarterly earnings results 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. Sell-side analysts anticipate that Tourmaline Bio, Inc. will post -3.02 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Tourmaline Bio
Institutional investors have recently modified their holdings of the business. GAMMA Investing LLC boosted its position in shares of Tourmaline Bio by 4,481.7% during the first quarter. GAMMA Investing LLC now owns 7,514 shares of the company's stock valued at $114,000 after buying an additional 7,350 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in shares of Tourmaline Bio during the first quarter valued at $158,000. Nuveen Asset Management LLC boosted its position in shares of Tourmaline Bio by 21.5% during the fourth quarter. Nuveen Asset Management LLC now owns 76,245 shares of the company's stock valued at $1,546,000 after buying an additional 13,504 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Tourmaline Bio by 3.9% during the first quarter. SG Americas Securities LLC now owns 36,180 shares of the company's stock valued at $550,000 after buying an additional 1,368 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in shares of Tourmaline Bio by 87.6% during the fourth quarter. Bank of America Corp DE now owns 70,737 shares of the company's stock valued at $1,435,000 after buying an additional 33,028 shares during the last quarter. 91.89% of the stock is owned by hedge funds and other institutional investors.
Tourmaline Bio Company Profile
(
Get Free Report)
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Tourmaline Bio, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Tourmaline Bio wasn't on the list.
While Tourmaline Bio currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
We are about to experience the greatest A.I. boom in stock market history...
Thanks to a pivotal economic catalyst, specific tech stocks will skyrocket just like they did during the "dot com" boom in the 1990s.
That’s why, we’ve hand-selected 7 tiny tech disruptor stocks positioned to surge.
- The first pick is a tiny under-the-radar A.I. stock that's trading for just $3.00. This company already has 98 registered patents for cutting-edge voice and sound recognition technology... And has lined up major partnerships with some of the biggest names in the auto, tech, and music industry... plus many more.
- The second pick presents an affordable avenue to bolster EVs and AI development…. Analysts are calling this stock a “buy” right now and predict a high price target of $19.20, substantially more than its current $6 trading price.
- Our final and favorite pick is generating a brand-new kind of AI. It's believed this tech will be bigger than the current well-known leader in this industry… Analysts predict this innovative tech is gearing up to create a tidal wave of new wealth, fueling a $15.7 TRILLION market boom.
Right now, we’re staring down the barrel of a true once-in-a-lifetime moment. As an investment opportunity, this kind of breakthrough doesn't come along every day.
And the window to get in on the ground-floor — maximizing profit potential from this expected market surge — is closing quickly...
Simply enter your email below to get the names and tickers of the 7 small stocks with potential to make investors very, very happy.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
