Tourmaline Bio, Inc. (NASDAQ:TRML) Receives $61.80 Average Price Target from Analysts

Shares of Tourmaline Bio, Inc. (NASDAQ:TRML) have earned a consensus rating of “Buy” from the seven research firms that are currently covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $61.80.

A number of analysts have issued reports on the stock. HC Wainwright reiterated a “buy” rating and issued a $48.00 price target on shares of Tourmaline Bio in a report on Monday, August 12th. Cantor Fitzgerald raised shares of Tourmaline Bio to a “strong-buy” rating in a research note on Tuesday.

Tourmaline Bio Stock Performance

Shares of NASDAQ TRML opened at $27.80 on Thursday. The company has a market cap of $712.99 million, a P/E ratio of -4.28 and a beta of 2.37. The firm’s fifty day moving average is $20.02 and its two-hundred day moving average is $17.21. Tourmaline Bio has a 52-week low of $9.18 and a 52-week high of $48.31.

Tourmaline Bio (NASDAQ:TRML) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.68) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.04. As a group, analysts forecast that Tourmaline Bio will post -3.12 EPS for the current fiscal year.

Insider Buying and Selling

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 stock was purchased at an average cost of $13.79 per share, with a total value of $71,997.59. Following the purchase, the chief executive officer now owns 5,221 shares in the company, valued at approximately $71,997.59. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 11.02% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tourmaline Bio

A number of large investors have recently made changes to their positions in TRML. Avoro Capital Advisors LLC boosted its position in Tourmaline Bio by 155.9% in the 1st quarter. Avoro Capital Advisors LLC now owns 2,222,222 shares of the company’s stock valued at $50,889,000 after buying an additional 1,353,815 shares during the period. Blue Owl Capital Holdings LP boosted its position in Tourmaline Bio by 18.5% in the 2nd quarter. Blue Owl Capital Holdings LP now owns 1,715,401 shares of the company’s stock valued at $22,060,000 after buying an additional 268,000 shares during the period. Jennison Associates LLC purchased a new stake in Tourmaline Bio in the 1st quarter valued at about $25,539,000. Vanguard Group Inc. boosted its position in Tourmaline Bio by 19.7% in the 1st quarter. Vanguard Group Inc. now owns 914,519 shares of the company’s stock valued at $20,942,000 after buying an additional 150,767 shares during the period. Finally, Braidwell LP purchased a new stake in Tourmaline Bio in the 4th quarter valued at about $23,741,000. 91.89% of the stock is owned by hedge funds and other 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.