Tourmaline Bio’s (TRML) “Overweight” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Tourmaline Bio (NASDAQ:TRML) in a report released on Wednesday morning,Benzinga reports. They currently have a $25.00 price objective on the stock.

Several other research firms also recently commented on TRML. BMO Capital Markets initiated coverage on shares of Tourmaline Bio in a report on Friday, December 6th. They set an “outperform” rating and a $50.00 price objective for the company. HC Wainwright restated a “buy” rating and set a $49.00 price target on shares of Tourmaline Bio in a report on Wednesday. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $54.00.

Tourmaline Bio Trading Down 3.2 %

Shares of TRML opened at $21.81 on Wednesday. The business’s 50 day moving average is $26.02 and its 200 day moving average is $19.82. Tourmaline Bio has a 12-month low of $12.12 and a 12-month high of $48.31. The company has a market capitalization of $559.21 million, a PE ratio of -7.73 and a beta of 2.32.

Tourmaline Bio (NASDAQ:TRML) last released its earnings results on Thursday, November 7th. The company reported ($0.78) EPS for the quarter, topping the consensus estimate of ($0.84) by $0.06. Equities research analysts predict that Tourmaline Bio will post -3.08 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quest Partners LLC lifted its stake in shares of Tourmaline Bio by 134.0% in the 2nd quarter. Quest Partners LLC now owns 3,822 shares of the company’s stock valued at $49,000 after purchasing an additional 2,189 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in Tourmaline Bio by 63.7% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 4,932 shares of the company’s stock valued at $127,000 after buying an additional 1,920 shares during the period. The Manufacturers Life Insurance Company bought a new stake in Tourmaline Bio in the third quarter worth $226,000. California State Teachers Retirement System purchased a new position in Tourmaline Bio during the first quarter worth $334,000. Finally, MetLife Investment Management LLC bought a new position in Tourmaline Bio during the third quarter valued at $357,000. Hedge funds and other institutional investors 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.