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

Shares of Tourmaline Bio, Inc. (NASDAQ:TRML) have been assigned an average recommendation of “Buy” from the six ratings firms that are currently covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a buy rating. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $54.00.

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

Tourmaline Bio Stock Performance

Shares of Tourmaline Bio stock opened at $13.14 on Wednesday. The firm has a 50-day moving average of $18.36 and a 200-day moving average of $20.99. Tourmaline Bio has a 52-week low of $12.12 and a 52-week high of $48.31. The stock has a market cap of $336.95 million, a PE ratio of -4.66 and a beta of 2.32.

Hedge Funds Weigh In On Tourmaline Bio

Several hedge funds and other institutional investors have recently modified their holdings of TRML. China Universal Asset Management Co. Ltd. boosted its stake in Tourmaline Bio by 63.7% in the third quarter. China Universal Asset Management Co. Ltd. now owns 4,932 shares of the company’s stock valued at $127,000 after buying an additional 1,920 shares in the last quarter. Quest Partners LLC boosted its stake in shares of Tourmaline Bio by 145.4% in the 3rd quarter. Quest Partners LLC now owns 9,381 shares of the company’s stock valued at $241,000 after purchasing an additional 5,559 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of Tourmaline Bio by 2.2% during the 3rd quarter. Jennison Associates LLC now owns 1,151,973 shares of the company’s stock valued at $29,617,000 after purchasing an additional 24,282 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Tourmaline Bio by 3.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 63,571 shares of the company’s stock valued at $1,634,000 after purchasing an additional 2,147 shares during the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in Tourmaline Bio during the 3rd quarter worth approximately $226,000. 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.