Tourmaline Bio (NASDAQ:TRML) Coverage Initiated by Analysts at Lifesci Capital

Lifesci Capital initiated coverage on shares of Tourmaline Bio (NASDAQ:TRML) in a research note issued to investors on Monday,Benzinga reports. The brokerage issued an outperform rating and a $58.00 price target on the stock.

A number of other brokerages have also issued reports on TRML. Guggenheim reiterated a “buy” rating on shares of Tourmaline Bio in a report on Wednesday, December 11th. HC Wainwright reissued a “buy” rating and set a $49.00 target price on shares of Tourmaline Bio in a research note on Wednesday, December 11th. Cantor Fitzgerald restated an “overweight” rating and set a $25.00 price objective on shares of Tourmaline Bio in a report on Wednesday, December 11th. Finally, BMO Capital Markets assumed coverage on shares of Tourmaline Bio in a research report on Friday, December 6th. They issued an “outperform” rating and a $50.00 price target on the stock. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $54.67.

Tourmaline Bio Price Performance

TRML opened at $12.25 on Monday. Tourmaline Bio has a 1 year low of $11.87 and a 1 year high of $48.31. The company has a market capitalization of $314.13 million, a PE ratio of -4.34 and a beta of 2.32. The business has a fifty day simple moving average of $17.54 and a 200 day simple moving average of $20.93.

Institutional Trading of Tourmaline Bio

Hedge funds have recently modified their holdings of the company. Jennison Associates LLC lifted its holdings in shares of Tourmaline Bio by 2.2% during the third quarter. Jennison Associates LLC now owns 1,151,973 shares of the company’s stock worth $29,617,000 after purchasing an additional 24,282 shares during the period. Vanguard Group Inc. raised its position in shares of Tourmaline Bio by 4.1% during the 4th quarter. Vanguard Group Inc. now owns 1,106,125 shares of the company’s stock worth $22,432,000 after purchasing an additional 43,652 shares during the last quarter. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Tourmaline Bio in the fourth quarter worth approximately $12,168,000. Geode Capital Management LLC boosted its stake in Tourmaline Bio by 6.4% during the 3rd quarter. Geode Capital Management LLC now owns 482,078 shares of the company’s stock worth $12,396,000 after purchasing an additional 29,005 shares during the last quarter. Finally, Velan Capital Investment Management LP grew its stake in Tourmaline Bio by 28.0% during the 4th quarter. Velan Capital Investment Management LP now owns 423,795 shares of the company’s stock valued at $8,595,000 after acquiring an additional 92,605 shares in the last quarter. 91.89% of the stock is owned by hedge funds and other institutional investors.

About Tourmaline Bio

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.