Tourmaline Bio, Inc. (NASDAQ:TRML) Receives $61.80 Consensus PT from Analysts

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

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $48.00 price objective on shares of Tourmaline Bio in a report on Monday, August 12th.

Tourmaline Bio Price Performance

Shares of TRML stock opened at $19.34 on Friday. The business has a fifty day moving average of $15.76 and a 200 day moving average of $18.77. Tourmaline Bio has a 1 year low of $9.18 and a 1 year high of $48.31. The firm has a market capitalization of $496.01 million, a price-to-earnings ratio of -2.98 and a beta of 2.31.

Tourmaline Bio (NASDAQ:TRML) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.68) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.72) by $0.04. As a group, equities research analysts expect that Tourmaline Bio will post -3.12 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Sandeep Chidambar Kulkarni purchased 5,221 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were bought at an average price of $13.79 per share, for a total transaction of $71,997.59. Following the completion of the transaction, the chief executive officer now owns 5,221 shares in the company, valued at $71,997.59. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 11.02% of the company’s stock.

Institutional Investors Weigh In On Tourmaline Bio

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Avoro Capital Advisors LLC raised its holdings in shares of Tourmaline Bio by 155.9% during the first quarter. Avoro Capital Advisors LLC now owns 2,222,222 shares of the company’s stock valued at $50,889,000 after acquiring an additional 1,353,815 shares during the last quarter. Jennison Associates LLC acquired a new position in Tourmaline Bio in the 1st quarter valued at $25,539,000. Braidwell LP purchased a new position in Tourmaline Bio in the 4th quarter valued at $23,741,000. Great Point Partners LLC acquired a new stake in Tourmaline Bio during the 4th quarter worth $17,616,000. Finally, Darwin Global Management Ltd. purchased a new stake in shares of Tourmaline Bio during the first quarter worth $10,648,000. Hedge funds and other institutional investors 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.