Tourmaline Bio (NASDAQ:TRML) Earns “Buy” Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Tourmaline Bio (NASDAQ:TRML) in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a $50.00 price target on the stock.

TRML has been the subject of a number of other reports. Lifesci Capital began coverage on shares of Tourmaline Bio in a research report on Monday, February 24th. They set an “outperform” rating and a $58.00 price target for the company. Chardan Capital assumed coverage on shares of Tourmaline Bio in a report on Wednesday, April 23rd. They issued a “buy” rating and a $70.00 price target on the stock. Finally, Wedbush boosted their price objective on Tourmaline Bio from $42.00 to $43.00 and gave the company an “outperform” rating in a report on Friday, March 14th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Tourmaline Bio presently has an average rating of “Buy” and an average price target of $49.33.

Tourmaline Bio Price Performance

Shares of TRML stock opened at $15.92 on Monday. The stock’s fifty day moving average price is $15.28 and its 200 day moving average price is $19.01. Tourmaline Bio has a 1-year low of $11.56 and a 1-year high of $29.79. The company has a market cap of $408.91 million, a price-to-earnings ratio of -5.65 and a beta of 2.14.

Tourmaline Bio (NASDAQ:TRML) last released its earnings results on Friday, May 2nd. The company reported ($0.89) earnings per share for the quarter, topping the consensus estimate of ($0.91) by $0.02. As a group, equities research analysts anticipate that Tourmaline Bio will post -3.02 earnings per share for the current year.

Institutional Trading of Tourmaline Bio

Institutional investors have recently modified their holdings of the stock. Brooklyn Investment Group acquired a new stake in Tourmaline Bio in the 4th quarter worth about $32,000. Tower Research Capital LLC TRC raised its stake in Tourmaline Bio by 297.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,646 shares of the company’s stock valued at $33,000 after purchasing an additional 1,232 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in Tourmaline Bio in the 4th quarter valued at $47,000. Virtus ETF Advisers LLC acquired a new stake in Tourmaline Bio during the 4th quarter worth $64,000. Finally, GAMMA Investing LLC grew its holdings 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 worth $114,000 after buying an additional 7,350 shares in the last quarter. Institutional investors and hedge funds own 91.89% of the company’s stock.

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.