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

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

Tourmaline Bio Trading Down 2.1 %

Shares of TRML traded down $0.34 during mid-day trading on Friday, hitting $16.06. 326,923 shares of the company traded hands, compared to its average volume of 236,051. Tourmaline Bio has a one year low of $12.12 and a one year high of $48.31. The business has a 50-day moving average of $21.10 and a 200 day moving average of $21.07. The stock has a market capitalization of $411.78 million, a price-to-earnings ratio of -5.70 and a beta of 2.36.

Tourmaline Bio (NASDAQ:TRML) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.78) EPS for the quarter, beating the consensus estimate of ($0.84) by $0.06. As a group, analysts anticipate that Tourmaline Bio will post -2.99 earnings per share for the current year.

Hedge Funds Weigh In On Tourmaline Bio

Hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC boosted its stake in Tourmaline Bio by 6.4% in the third quarter. Geode Capital Management LLC now owns 482,078 shares of the company’s stock valued at $12,396,000 after acquiring an additional 29,005 shares during the last quarter. Wellington Management Group LLP raised its holdings in Tourmaline Bio by 72.8% in the third quarter. Wellington Management Group LLP now owns 65,741 shares of the company’s stock worth $1,690,000 after purchasing an additional 27,707 shares during the period. State Street Corp raised its holdings in Tourmaline Bio by 25.6% in the third quarter. State Street Corp now owns 411,980 shares of the company’s stock worth $10,592,000 after purchasing an additional 83,949 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in 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 purchasing an additional 2,147 shares during the period. Finally, Barclays PLC raised its holdings in Tourmaline Bio by 283.7% in the third quarter. Barclays PLC now owns 31,833 shares of the company’s stock worth $819,000 after purchasing an additional 23,536 shares during the period. 91.89% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

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.