Analysts Set Tourmaline Bio, Inc. (NASDAQ:TRML) Target Price at $54.00

Tourmaline Bio, Inc. (NASDAQ:TRML) has received a consensus recommendation of “Buy” from the six ratings firms that are presently covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a buy recommendation. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $54.00.

TRML has been the subject of a number of research analyst reports. HC Wainwright restated a “buy” rating and issued a $49.00 target price on shares of Tourmaline Bio in a research note on Wednesday, December 11th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $25.00 target price on shares of Tourmaline Bio in a research report on Wednesday, December 11th. BMO Capital Markets started coverage on shares of Tourmaline Bio in a research note on Friday, December 6th. They set an “outperform” rating and a $50.00 price objective on the stock. Finally, Guggenheim reaffirmed a “buy” rating on shares of Tourmaline Bio in a research note on Wednesday, December 11th.

Tourmaline Bio Price Performance

Shares of TRML opened at $12.21 on Wednesday. The company has a 50-day simple moving average of $17.73 and a two-hundred day simple moving average of $20.95. The firm has a market capitalization of $313.10 million, a PE ratio of -4.33 and a beta of 2.32. Tourmaline Bio has a one year low of $12.12 and a one year high of $48.31.

Institutional Trading of Tourmaline Bio

A number of institutional investors and hedge funds have recently bought and sold shares of TRML. Brooklyn Investment Group purchased a new stake in shares of Tourmaline Bio during the fourth quarter valued at approximately $32,000. Tower Research Capital LLC TRC lifted its position in Tourmaline Bio by 297.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,646 shares of the company’s stock valued at $33,000 after acquiring an additional 1,232 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Tourmaline Bio during the 4th quarter valued at $47,000. Virtus ETF Advisers LLC bought a new stake in shares of Tourmaline Bio in the 4th quarter worth $64,000. Finally, China Universal Asset Management Co. Ltd. raised its position in Tourmaline Bio by 63.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 4,932 shares of the company’s stock worth $127,000 after buying an additional 1,920 shares during the last quarter. 91.89% of the stock is currently owned by institutional investors.

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.