Brokerages Set Tourmaline Bio, Inc. (NASDAQ:TRML) PT at $54.00

Shares of Tourmaline Bio, Inc. (NASDAQ:TRML) have been assigned a consensus rating of “Buy” from the six research firms that are presently covering the firm, MarketBeat reports. Six research analysts have rated the stock with a buy recommendation. The average 1-year target price among brokers that have issued a report on the stock in the last year is $54.00.

A number of brokerages recently issued reports on TRML. HC Wainwright reissued a “buy” rating and set a $49.00 price target on shares of Tourmaline Bio in a research note on Wednesday, December 11th. BMO Capital Markets assumed coverage on Tourmaline Bio in a report on Friday, December 6th. They issued an “outperform” rating and a $50.00 price target on the stock. Guggenheim restated a “buy” rating on shares of Tourmaline Bio in a research note on Wednesday, December 11th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $25.00 price target on shares of Tourmaline Bio in a research report on Wednesday, December 11th.

Tourmaline Bio Price Performance

NASDAQ:TRML opened at $12.21 on Wednesday. The firm has a market capitalization of $313.06 million, a price-to-earnings ratio of -4.33 and a beta of 2.32. Tourmaline Bio has a 1 year low of $12.12 and a 1 year high of $48.31. The business has a 50 day simple moving average of $17.73 and a 200-day simple moving average of $20.85.

Hedge Funds Weigh In On Tourmaline Bio

A number of large investors have recently bought and sold shares of the business. China Universal Asset Management Co. Ltd. increased its stake in Tourmaline Bio by 63.7% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 4,932 shares of the company’s stock worth $127,000 after buying an additional 1,920 shares in the last quarter. Quest Partners LLC raised its stake in shares of Tourmaline Bio by 145.4% in the third quarter. Quest Partners LLC now owns 9,381 shares of the company’s stock valued at $241,000 after acquiring an additional 5,559 shares in the last quarter. Jennison Associates LLC raised its stake in shares of Tourmaline Bio by 2.2% in the third quarter. Jennison Associates LLC now owns 1,151,973 shares of the company’s stock valued at $29,617,000 after acquiring an additional 24,282 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Tourmaline Bio by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 63,571 shares of the company’s stock valued at $1,634,000 after buying an additional 2,147 shares during the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new position in Tourmaline Bio in the third quarter valued at $226,000. Institutional investors and hedge funds own 91.89% of the company’s stock.

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.