Analysts Set Tourmaline Bio, Inc. (NASDAQ:TRML) Price Target at $54.00

Shares of Tourmaline Bio, Inc. (NASDAQ:TRML) have received an average recommendation of “Buy” from the six ratings firms that are currently covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a buy recommendation. The average 12-month price target among analysts that have covered the stock in the last year is $54.00.

TRML has been the subject of several recent research reports. 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. HC Wainwright restated a “buy” rating and issued a $49.00 target price on shares of Tourmaline Bio in a research note on Wednesday, December 11th. BMO Capital Markets began coverage on shares of Tourmaline Bio in a research report on Friday, December 6th. They set an “outperform” rating and a $50.00 price target for the company. Finally, Guggenheim reissued a “buy” rating on shares of Tourmaline Bio in a research report on Wednesday, December 11th.

Tourmaline Bio Trading Down 1.3 %

TRML stock opened at $12.21 on Wednesday. The firm has a market cap of $313.10 million, a PE ratio of -4.33 and a beta of 2.32. The stock has a 50-day moving average price of $17.73 and a 200-day moving average price of $20.95. Tourmaline Bio has a 1-year low of $12.12 and a 1-year high of $48.31.

Hedge Funds Weigh In On Tourmaline Bio

A number of large investors have recently modified their holdings of the company. Brooklyn Investment Group bought a new position in shares of Tourmaline Bio in the fourth quarter worth approximately $32,000. Tower Research Capital LLC TRC increased its stake in Tourmaline Bio by 297.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,646 shares of the company’s stock valued at $33,000 after acquiring an additional 1,232 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Tourmaline Bio during the fourth quarter valued at about $47,000. Virtus ETF Advisers LLC bought a new stake in Tourmaline Bio during the fourth quarter worth about $64,000. Finally, China Universal Asset Management Co. Ltd. boosted its holdings in shares of Tourmaline Bio by 63.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 4,932 shares of the company’s stock worth $127,000 after purchasing an additional 1,920 shares in the last quarter. 91.89% of the stock is currently owned by 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.