Tourmaline Bio, Inc. (NASDAQ:TRML) Sees Large Growth in Short Interest

Tourmaline Bio, Inc. (NASDAQ:TRML) was the target of a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 2,710,000 shares, a growth of 16.3% from the January 15th total of 2,330,000 shares. Approximately 17.4% of the company’s stock are short sold. Based on an average daily trading volume, of 248,100 shares, the days-to-cover ratio is presently 10.9 days.

Analyst Ratings Changes

A number of equities research analysts recently commented on TRML shares. Guggenheim reissued a “buy” rating on shares of Tourmaline Bio in a research report on Wednesday, December 11th. BMO Capital Markets started coverage on Tourmaline Bio in a research report on Friday, December 6th. They set an “outperform” rating and a $50.00 target price for the company. HC Wainwright reaffirmed a “buy” rating and set a $49.00 target price on shares of Tourmaline Bio in a research report on Wednesday, December 11th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $25.00 target price on shares of Tourmaline Bio in a research report on Wednesday, December 11th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $54.00.

Institutional Investors Weigh In On Tourmaline Bio

Several large investors have recently added to or reduced their stakes in TRML. Brooklyn Investment Group purchased a new stake in Tourmaline Bio in the 4th quarter worth about $32,000. Tower Research Capital LLC TRC increased its holdings 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 worth $33,000 after acquiring an additional 1,232 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Tourmaline Bio in the 4th quarter worth about $47,000. Virtus ETF Advisers LLC purchased a new stake in Tourmaline Bio in the 4th quarter worth about $64,000. Finally, China Universal Asset Management Co. Ltd. increased its holdings 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 acquiring an additional 1,920 shares during the last quarter. Hedge funds and other institutional investors own 91.89% of the company’s stock.

Tourmaline Bio Stock Up 5.7 %

TRML traded up $0.74 during trading hours on Friday, hitting $13.83. The stock had a trading volume of 229,174 shares, compared to its average volume of 298,782. The company’s fifty day simple moving average is $18.83 and its 200 day simple moving average is $20.97. Tourmaline Bio has a 1 year low of $12.12 and a 1 year high of $48.31. The stock has a market cap of $354.60 million, a PE ratio of -4.90 and a beta of 2.32.

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.