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

Tourmaline Bio, Inc. (NASDAQ:TRML) has been assigned an average recommendation of “Buy” from the six brokerages that are presently covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a buy recommendation. The average 1-year price target among brokerages that have covered the stock in the last year is $61.80.

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

Tourmaline Bio Stock Down 8.5 %

Shares of Tourmaline Bio stock opened at $25.15 on Thursday. The firm has a market cap of $645.02 million, a price-to-earnings ratio of -3.87 and a beta of 2.37. The business has a 50-day moving average price of $19.30 and a 200-day moving average price of $17.13. Tourmaline Bio has a twelve month low of $9.18 and a twelve month high of $48.31.

Tourmaline Bio (NASDAQ:TRML) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.68) EPS for the quarter, topping the consensus estimate of ($0.72) by $0.04. On average, equities analysts expect that Tourmaline Bio will post -3.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Sandeep Chidambar Kulkarni acquired 5,221 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was acquired at an average price of $13.79 per share, with a total value of $71,997.59. Following the completion of the purchase, the chief executive officer now directly owns 5,221 shares in the company, valued at approximately $71,997.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 11.02% of the stock is owned by insiders.

Institutional Trading of Tourmaline Bio

Several institutional investors have recently added to or reduced their stakes in the company. Braidwell LP bought a new stake in shares of Tourmaline Bio during the fourth quarter valued at approximately $23,741,000. Great Point Partners LLC bought a new stake in shares of Tourmaline Bio in the fourth quarter valued at about $17,616,000. Denali Advisors LLC purchased a new stake in Tourmaline Bio in the first quarter worth about $128,000. China Universal Asset Management Co. Ltd. grew its holdings in Tourmaline Bio by 109.5% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 4,939 shares of the company’s stock worth $113,000 after acquiring an additional 2,582 shares in the last quarter. Finally, BNP Paribas Financial Markets purchased a new position in Tourmaline Bio during the 1st quarter valued at about $31,000. 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.