Cantor Fitzgerald Reaffirms Overweight Rating for Tourmaline Bio (NASDAQ:TRML)

Tourmaline Bio (NASDAQ:TRML)‘s stock had its “overweight” rating restated by research analysts at Cantor Fitzgerald in a note issued to investors on Wednesday,Benzinga reports. They currently have a $25.00 price target on the stock. Cantor Fitzgerald’s price target suggests a potential upside of 1.26% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. HC Wainwright restated a “buy” rating and set a $49.00 price objective on shares of Tourmaline Bio in a research report on Wednesday. BMO Capital Markets assumed coverage on shares of Tourmaline Bio in a research report on Friday, December 6th. They set an “outperform” rating and a $50.00 price target on the stock. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $54.00.

Tourmaline Bio Trading Down 1.2 %

TRML stock traded down $0.31 during mid-day trading on Wednesday, reaching $24.69. The company’s stock had a trading volume of 10,657 shares, compared to its average volume of 291,804. The company’s 50 day moving average is $26.24 and its two-hundred day moving average is $19.71. Tourmaline Bio has a fifty-two week low of $12.12 and a fifty-two week high of $48.31. The stock has a market cap of $633.05 million, a PE ratio of -8.76 and a beta of 2.32.

Tourmaline Bio (NASDAQ:TRML) last issued its earnings results on Thursday, November 7th. The company reported ($0.78) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.84) by $0.06. On average, analysts forecast that Tourmaline Bio will post -3.08 earnings per share for the current fiscal year.

Institutional Trading of Tourmaline Bio

Institutional investors have recently added to or reduced their stakes in the stock. Blue Owl Capital Holdings LP boosted its position in shares of Tourmaline Bio by 18.5% during the second quarter. Blue Owl Capital Holdings LP now owns 1,715,401 shares of the company’s stock worth $22,060,000 after buying an additional 268,000 shares during the period. Bank of New York Mellon Corp purchased a new position in Tourmaline Bio during the 2nd quarter valued at about $909,000. Rhumbline Advisers grew its position in Tourmaline Bio by 28,554.3% in the 2nd quarter. Rhumbline Advisers now owns 33,239 shares of the company’s stock valued at $427,000 after acquiring an additional 33,123 shares in the last quarter. Acuta Capital Partners LLC increased its stake in Tourmaline Bio by 23.2% during the third quarter. Acuta Capital Partners LLC now owns 332,095 shares of the company’s stock worth $8,538,000 after purchasing an additional 62,481 shares during the period. Finally, California State Teachers Retirement System acquired a new stake in shares of Tourmaline Bio during the first quarter worth about $334,000. 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.