Tourmaline Bio (NASDAQ:TRML) Given Buy Rating at Chardan Capital

Chardan Capital reiterated their buy rating on shares of Tourmaline Bio (NASDAQ:TRML - Free Report) in a report released on Monday morning,Benzinga reports. They currently have a $70.00 target price on the stock. Chardan Capital also issued estimates for Tourmaline Bio's FY2025 earnings at ($3.93) EPS and FY2026 earnings at ($4.72) EPS.

A number of other equities analysts also recently commented on the company. Lifesci Capital began coverage on Tourmaline Bio in a research report on Monday, February 24th. They set an "outperform" rating and a $58.00 price objective for the company. Wedbush raised their price objective on shares of Tourmaline Bio from $42.00 to $43.00 and gave the company an "outperform" rating in a report on Friday, March 14th. Finally, HC Wainwright reiterated a "buy" rating and set a $50.00 target price on shares of Tourmaline Bio in a research note on Monday, May 5th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $49.33.

Tourmaline Bio Stock Down 4.1 %

TRML stock traded down $0.65 during midday trading on Monday, hitting $15.09. The company's stock had a trading volume of 287,554 shares, compared to its average volume of 271,269. The firm has a 50-day simple moving average of $15.49 and a 200-day simple moving average of $18.78. The firm has a market capitalization of $387.59 million, a P/E ratio of -5.35 and a beta of 2.11. Tourmaline Bio has a 52-week low of $11.56 and a 52-week high of $29.79.

Tourmaline Bio (NASDAQ:TRML - Get Free Report) last released its earnings results on Friday, May 2nd. The company reported ($0.89) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.91) by $0.02. On average, sell-side analysts expect that Tourmaline Bio will post -3.02 earnings per share for the current fiscal year.

Institutional Trading of Tourmaline Bio

Several institutional investors and hedge funds have recently made changes to their positions in the company. Jane Street Group LLC increased its position in Tourmaline Bio by 211.3% during the third quarter. Jane Street Group LLC now owns 21,705 shares of the company's stock worth $558,000 after buying an additional 41,205 shares during the period. Barclays PLC increased its holdings in shares of Tourmaline Bio by 283.7% in the 3rd quarter. Barclays PLC now owns 31,833 shares of the company's stock valued at $819,000 after acquiring an additional 23,536 shares during the period. JPMorgan Chase & Co. raised its position in Tourmaline Bio by 16.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 14,804 shares of the company's stock valued at $381,000 after purchasing an additional 2,100 shares during the last quarter. Brooklyn Investment Group acquired a new stake in Tourmaline Bio during the 4th quarter worth $32,000. Finally, SG Americas Securities LLC grew its position in Tourmaline Bio by 3.4% during the 4th quarter. SG Americas Securities LLC now owns 34,812 shares of the company's stock worth $706,000 after purchasing an additional 1,140 shares during the last quarter. 91.89% of the stock is owned by hedge funds and other institutional investors.

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.