Tourmaline Bio, Inc. (NASDAQ:TRML – Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $27.48, but opened at $25.52. Tourmaline Bio shares last traded at $26.55, with a volume of 93,988 shares trading hands.
Analyst Upgrades and Downgrades
Separately, HC Wainwright reaffirmed a “buy” rating and issued a $48.00 price objective on shares of Tourmaline Bio in a research note on Monday, August 12th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $61.80.
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Tourmaline Bio Price Performance
Tourmaline Bio (NASDAQ:TRML – Get Free Report) last announced its earnings results on Thursday, August 8th. The company reported ($0.68) EPS for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.04. Equities research analysts expect that Tourmaline Bio, Inc. will post -3.12 EPS for the current year.
Insider Buying and Selling at Tourmaline Bio
In other news, CEO Sandeep Chidambar Kulkarni bought 5,221 shares of the stock in a transaction dated Friday, August 16th. The stock was purchased at an average price of $13.79 per share, for a total transaction of $71,997.59. Following the acquisition, the chief executive officer now owns 5,221 shares of the company’s stock, valued at $71,997.59. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 11.02% of the company’s stock.
Institutional Investors Weigh In On Tourmaline Bio
Institutional investors and hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets bought a new position in Tourmaline Bio in the 1st quarter valued at $31,000. Quest Partners LLC boosted its stake in shares of Tourmaline Bio by 134.0% during the second quarter. Quest Partners LLC now owns 3,822 shares of the company’s stock valued at $49,000 after purchasing an additional 2,189 shares during the period. China Universal Asset Management Co. Ltd. grew its holdings in shares of Tourmaline Bio by 109.5% in the first quarter. China Universal Asset Management Co. Ltd. now owns 4,939 shares of the company’s stock worth $113,000 after purchasing an additional 2,582 shares during the last quarter. Denali Advisors LLC purchased a new position in Tourmaline Bio in the 1st quarter worth about $128,000. Finally, Janus Henderson Group PLC bought a new stake in Tourmaline Bio during the 1st quarter valued at about $266,000. 91.89% of the stock is owned by institutional investors.
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.
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