Tourmaline Bio (NASDAQ:TRML) Earns “Buy” Rating from Truist Financial

Truist Financial reissued their buy rating on shares of Tourmaline Bio (NASDAQ:TRML) in a report published on Monday morning, Benzinga reports. The brokerage currently has a $74.00 target price on the stock.

Other equities research analysts also recently issued research reports about the stock. Jefferies Financial Group lifted their price target on shares of Tourmaline Bio from $41.00 to $72.00 and gave the stock a buy rating in a research note on Wednesday, March 20th. HC Wainwright reissued a buy rating and issued a $48.00 target price on shares of Tourmaline Bio in a research note on Wednesday, March 20th. Finally, Leerink Partnrs restated an outperform rating on shares of Tourmaline Bio in a research note on Thursday, December 7th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of Buy and an average price target of $61.80.

Tourmaline Bio Trading Down 3.9 %

TRML opened at $22.90 on Monday. The company’s 50 day moving average price is $37.01. The company has a market capitalization of $465.79 million, a PE ratio of -2.02 and a beta of 2.45. Tourmaline Bio has a 1 year low of $9.18 and a 1 year high of $48.31.

Insider Buying and Selling

In other Tourmaline Bio news, Director Mark Mcdade acquired 100,000 shares of the business’s stock in a transaction on Monday, January 29th. The stock was purchased at an average price of $32.50 per share, for a total transaction of $3,250,000.00. Following the transaction, the director now owns 448,431 shares in the company, valued at approximately $14,574,007.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 16.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. acquired a new stake in Tourmaline Bio in the 4th quarter valued at about $236,000. Jump Financial LLC bought a new stake in shares of Tourmaline Bio during the fourth quarter valued at approximately $380,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Tourmaline Bio in the fourth quarter valued at approximately $399,000. Dimensional Fund Advisors LP acquired a new stake in shares of Tourmaline Bio in the fourth quarter valued at approximately $546,000. Finally, Northern Trust Corp bought a new position in Tourmaline Bio in the 4th quarter worth approximately $586,000. Institutional investors and hedge funds own 91.89% of the company’s stock.

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.