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

Tourmaline Bio, Inc. (NASDAQ:TRML) has earned a consensus recommendation of “Buy” from the seven ratings firms that are currently covering the firm, MarketBeat reports. Seven analysts have rated the stock with a buy rating. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $49.3333.

A number of research firms recently issued reports on TRML. HC Wainwright restated a “buy” rating and set a $50.00 price objective on shares of Tourmaline Bio in a report on Monday, May 5th. Chardan Capital reiterated a “buy” rating and issued a $70.00 target price on shares of Tourmaline Bio in a research note on Monday, May 5th.

Hedge Funds Weigh In On Tourmaline Bio

Several large investors have recently modified their holdings of TRML. Octagon Capital Advisors LP purchased a new position in shares of Tourmaline Bio in the first quarter worth about $13,765,000. QVT Financial LP boosted its position in shares of Tourmaline Bio by 107.1% in the first quarter. QVT Financial LP now owns 1,473,369 shares of the company’s stock valued at $22,410,000 after acquiring an additional 762,094 shares during the period. Adage Capital Partners GP L.L.C. bought a new position in shares of Tourmaline Bio in the fourth quarter valued at approximately $12,168,000. Nan Fung Trinity HK Ltd. bought a new position in shares of Tourmaline Bio in the second quarter valued at approximately $3,631,000. Finally, Federated Hermes Inc. boosted its position in shares of Tourmaline Bio by 13,036.0% in the first quarter. Federated Hermes Inc. now owns 121,245 shares of the company’s stock valued at $1,844,000 after acquiring an additional 120,322 shares during the period. Hedge funds and other institutional investors own 91.89% of the company’s stock.

Tourmaline Bio Stock Performance

NASDAQ TRML opened at $21.48 on Wednesday. Tourmaline Bio has a 52-week low of $11.56 and a 52-week high of $29.79. The company has a 50-day simple moving average of $18.84 and a 200 day simple moving average of $16.45. The company has a market capitalization of $551.61 million, a PE ratio of -6.69 and a beta of 2.04.

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.