Tourmaline Bio (NASDAQ:TRML) Trading Up 7.2% – What’s Next?

Shares of Tourmaline Bio, Inc. (NASDAQ:TRML) were up 7.2% on Thursday . The stock traded as high as $20.17 and last traded at $20.08. Approximately 96,834 shares were traded during trading, a decline of 65% from the average daily volume of 273,927 shares. The stock had previously closed at $18.73.

Analysts Set New Price Targets

Several research analysts have recently weighed in on TRML shares. Wedbush upped their price objective on Tourmaline Bio from $42.00 to $43.00 and gave the stock an “outperform” rating in a research report on Friday, March 14th. Chardan Capital reiterated a “buy” rating and set a $70.00 target price on shares of Tourmaline Bio in a report on Monday, May 5th. HC Wainwright reiterated a “buy” rating and set a $50.00 target price on shares of Tourmaline Bio in a report on Monday, May 5th. Finally, Lifesci Capital assumed coverage on Tourmaline Bio in a report on Monday, February 24th. They set an “outperform” rating and a $58.00 target price on the stock. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $49.33.

Tourmaline Bio Stock Up 2.0%

The firm has a market cap of $494.95 million, a P/E ratio of -6.83 and a beta of 2.04. The firm has a fifty day moving average of $15.58 and a 200-day moving average of $17.37.

Tourmaline Bio (NASDAQ:TRML) last released its quarterly earnings data on Friday, May 2nd. The company reported ($0.89) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.91) by $0.02. On average, equities analysts forecast that Tourmaline Bio, Inc. will post -3.02 EPS for the current year.

Institutional Trading of Tourmaline Bio

Several institutional investors and hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC increased its stake in shares of Tourmaline Bio by 297.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,646 shares of the company’s stock worth $33,000 after purchasing an additional 1,232 shares during the period. KLP Kapitalforvaltning AS bought a new position in shares of Tourmaline Bio during the fourth quarter worth approximately $47,000. Brooklyn Investment Group increased its stake in shares of Tourmaline Bio by 148.9% during the first quarter. Brooklyn Investment Group now owns 3,923 shares of the company’s stock worth $60,000 after purchasing an additional 2,347 shares during the period. Virtus ETF Advisers LLC bought a new position in shares of Tourmaline Bio during the fourth quarter worth approximately $64,000. Finally, GAMMA Investing LLC increased its stake in shares of Tourmaline Bio by 4,481.7% during the first quarter. GAMMA Investing LLC now owns 7,514 shares of the company’s stock worth $114,000 after purchasing an additional 7,350 shares during the period. Institutional investors 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.