Tourmaline Bio, Inc. (NASDAQ:TRML) Short Interest Up 26.8% in December

Tourmaline Bio, Inc. (NASDAQ:TRML) saw a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 2,080,000 shares, an increase of 26.8% from the December 15th total of 1,640,000 shares. Currently, 13.8% of the shares of the company are short sold. Based on an average trading volume of 197,500 shares, the days-to-cover ratio is currently 10.5 days.

Tourmaline Bio Trading Up 3.9 %

NASDAQ TRML traded up $0.67 on Friday, reaching $18.00. 325,872 shares of the stock were exchanged, compared to its average volume of 163,015. Tourmaline Bio has a one year low of $12.12 and a one year high of $48.31. The firm has a market capitalization of $461.52 million, a PE ratio of -6.38 and a beta of 2.36. The company’s 50-day simple moving average is $22.56 and its two-hundred day simple moving average is $20.83.

Tourmaline Bio (NASDAQ:TRML) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.78) EPS for the quarter, beating the consensus estimate of ($0.84) by $0.06. Sell-side analysts forecast that Tourmaline Bio will post -2.99 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TRML has been the subject of a number of recent research reports. BMO Capital Markets started coverage on Tourmaline Bio in a research note on Friday, December 6th. They set an “outperform” rating and a $50.00 price target for the company. Cantor Fitzgerald restated an “overweight” rating and set a $25.00 target price on shares of Tourmaline Bio in a research report on Wednesday, December 11th. Guggenheim reiterated a “buy” rating on shares of Tourmaline Bio in a research report on Wednesday, December 11th. Finally, HC Wainwright reissued a “buy” rating and set a $49.00 price objective on shares of Tourmaline Bio in a research report on Wednesday, December 11th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $54.00.

Hedge Funds Weigh In On Tourmaline Bio

Large investors have recently made changes to their positions in the business. SG Americas Securities LLC grew its position in shares of Tourmaline Bio by 3.4% during the fourth quarter. SG Americas Securities LLC now owns 34,812 shares of the company’s stock worth $706,000 after purchasing an additional 1,140 shares in the last quarter. Brooklyn Investment Group bought a new position in Tourmaline Bio in the 4th quarter worth approximately $32,000. China Universal Asset Management Co. Ltd. grew its holdings in Tourmaline Bio by 63.7% during the 3rd 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. JPMorgan Chase & Co. raised its position in shares of Tourmaline Bio by 16.5% during the third quarter. JPMorgan Chase & Co. now owns 14,804 shares of the company’s stock valued at $381,000 after buying an additional 2,100 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Tourmaline Bio by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 63,571 shares of the company’s stock worth $1,634,000 after buying an additional 2,147 shares in the last quarter. 91.89% of the stock is currently 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.