Tourmaline Bio (NASDAQ:TRML) Now Covered by Lifesci Capital

Lifesci Capital assumed coverage on shares of Tourmaline Bio (NASDAQ:TRML) in a report released on Monday,Benzinga reports. The brokerage set an “outperform” rating and a $58.00 price target on the stock. Lifesci Capital’s price target indicates a potential upside of 381.49% from the stock’s previous close.

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

Tourmaline Bio Stock Performance

Shares of NASDAQ TRML traded down $0.16 during trading hours on Monday, hitting $12.05. 81,674 shares of the stock were exchanged, compared to its average volume of 287,104. Tourmaline Bio has a 1-year low of $11.87 and a 1-year high of $48.31. The company has a market cap of $308.90 million, a PE ratio of -4.26 and a beta of 2.32. The company’s fifty day simple moving average is $17.73 and its two-hundred day simple moving average is $20.95.

Hedge Funds Weigh In On Tourmaline Bio

A number of hedge funds have recently modified their holdings of TRML. Brooklyn Investment Group acquired a new stake in Tourmaline Bio during the 4th quarter valued at approximately $32,000. Tower Research Capital LLC TRC raised its holdings in shares of Tourmaline Bio by 297.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,646 shares of the company’s stock worth $33,000 after acquiring an additional 1,232 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in Tourmaline Bio in the 4th quarter valued at about $47,000. Virtus ETF Advisers LLC acquired a new position in Tourmaline Bio during the 4th quarter valued at about $64,000. Finally, China Universal Asset Management Co. Ltd. increased 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 worth $127,000 after purchasing an additional 1,920 shares in the last quarter. Institutional investors and hedge funds own 91.89% of the company’s stock.

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.