Tourmaline Bio, Inc. (NASDAQ:TRML) Given Average Recommendation of “Buy” by Analysts

Tourmaline Bio, Inc. (NASDAQ:TRML) has earned an average recommendation of “Buy” from the six ratings firms that are currently covering the firm, MarketBeat.com reports. Six research analysts have rated the stock with a buy recommendation. The average 1-year price target among brokerages that have covered the stock in the last year is $61.80.

A number of brokerages recently weighed in on TRML. Truist Financial reissued a “buy” rating and issued a $74.00 price objective on shares of Tourmaline Bio in a research note on Monday, March 25th. Jefferies Financial Group lifted their price target on shares of Tourmaline Bio from $41.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Finally, HC Wainwright reiterated a “buy” rating and issued a $48.00 target price on shares of Tourmaline Bio in a research note on Wednesday, March 20th.

Insider Buying and Selling

In related news, Director Mark Mcdade purchased 100,000 shares of Tourmaline Bio stock in a transaction on Monday, January 29th. The stock was purchased at an average cost of $32.50 per share, with a total value of $3,250,000.00. Following the acquisition, the director now directly owns 448,431 shares in the company, valued at $14,574,007.50. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 16.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tourmaline Bio

Several institutional investors and hedge funds have recently added to or reduced their stakes in TRML. Goldman Sachs Group Inc. bought a new stake in shares of Tourmaline Bio in the 4th quarter worth approximately $236,000. Jump Financial LLC bought a new position in Tourmaline Bio in the fourth quarter worth $380,000. Cubist Systematic Strategies LLC bought a new position in Tourmaline Bio in the fourth quarter worth $399,000. Dimensional Fund Advisors LP acquired a new stake in Tourmaline Bio during the fourth quarter worth $546,000. Finally, Northern Trust Corp bought a new stake in Tourmaline Bio in the 4th quarter valued at $586,000. 91.89% of the stock is currently owned by institutional investors.

Tourmaline Bio Stock Down 6.6 %

Tourmaline Bio stock opened at $16.68 on Thursday. Tourmaline Bio has a 1-year low of $9.18 and a 1-year high of $48.31. The firm’s fifty day simple moving average is $32.74. The company has a market cap of $427.84 million, a P/E ratio of -1.47 and a beta of 2.33.

Tourmaline Bio (NASDAQ:TRML) last posted its earnings results on Tuesday, March 19th. The company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.06). As a group, equities research analysts anticipate that Tourmaline Bio will post -2.9 EPS for the current year.

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.