Guggenheim Reiterates “Neutral” Rating for Tourmaline Bio (NASDAQ:TRML)

Guggenheim reiterated their neutral rating on shares of Tourmaline Bio (NASDAQ:TRML) in a research report sent to investors on Wednesday morning,Benzinga reports. Guggenheim currently has a $48.00 target price on the stock, down from their previous target price of $55.00.

A number of other equities analysts have also commented on the stock. HC Wainwright lowered shares of Tourmaline Bio from a “buy” rating to a “neutral” rating and cut their price target for the stock from $50.00 to $48.00 in a report on Wednesday. Lifesci Capital lowered shares of Tourmaline Bio from an “outperform” rating to a “hold” rating and set a $48.00 price target on the stock. in a report on Tuesday. Jefferies Financial Group downgraded shares of Tourmaline Bio from a “buy” rating to a “hold” rating and lowered their target price for the stock from $64.00 to $47.50 in a research note on Tuesday. Wedbush downgraded shares of Tourmaline Bio from an “outperform” rating to a “neutral” rating and set a $48.00 target price for the company. in a research note on Tuesday. Finally, Chardan Capital downgraded shares of Tourmaline Bio from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $70.00 to $48.00 in a research note on Wednesday. Two equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $45.85.

Tourmaline Bio Price Performance

Shares of Tourmaline Bio stock opened at $47.61 on Wednesday. Tourmaline Bio has a fifty-two week low of $11.56 and a fifty-two week high of $47.70. The firm has a market capitalization of $1.22 billion, a P/E ratio of -13.88 and a beta of 2.04. The company’s 50 day moving average price is $23.54 and its two-hundred day moving average price is $18.58.

Tourmaline Bio (NASDAQ:TRML) last issued its earnings results on Wednesday, August 13th. The company reported ($0.90) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.94) by $0.04. On average, analysts expect that Tourmaline Bio will post -3.02 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets grew its holdings in shares of Tourmaline Bio by 34.1% during the second quarter. BNP Paribas Financial Markets now owns 2,103 shares of the company’s stock valued at $34,000 after buying an additional 535 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Tourmaline Bio by 35.7% during the second quarter. Tower Research Capital LLC TRC now owns 3,214 shares of the company’s stock valued at $51,000 after buying an additional 846 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings 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 valued at $33,000 after buying an additional 1,232 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Tourmaline Bio by 3.9% during the first quarter. SG Americas Securities LLC now owns 36,180 shares of the company’s stock valued at $550,000 after buying an additional 1,368 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Tourmaline Bio by 12.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,378 shares of the company’s stock valued at $291,000 after buying an additional 1,598 shares during the last quarter. 91.89% of the stock is currently owned by institutional investors and hedge funds.

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.