Tourmaline Bio (NASDAQ:TRML) Now Covered by Analysts at Wedbush

Wedbush initiated coverage on shares of Tourmaline Bio (NASDAQ:TRML) in a research note issued to investors on Thursday morning, Marketbeat reports. The firm issued an outperform rating and a $42.00 price objective on the stock.

TRML has been the topic of several other research reports. Lifesci Capital initiated coverage on Tourmaline Bio in a report on Monday, February 24th. They issued an “outperform” rating and a $58.00 price target on the stock. BMO Capital Markets initiated coverage on shares of Tourmaline Bio in a research note on Friday, December 6th. They issued an “outperform” rating and a $50.00 price target for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $25.00 target price on shares of Tourmaline Bio in a research note on Wednesday, December 11th. HC Wainwright restated a “buy” rating and issued a $49.00 price target on shares of Tourmaline Bio in a research report on Wednesday, December 11th. Finally, Guggenheim restated a “buy” rating on shares of Tourmaline Bio in a report on Wednesday, December 11th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Tourmaline Bio has a consensus rating of “Buy” and a consensus price target of $52.86.

Tourmaline Bio Price Performance

Shares of TRML opened at $14.33 on Thursday. The business’s fifty day moving average price is $16.23 and its 200 day moving average price is $20.78. Tourmaline Bio has a 12-month low of $11.87 and a 12-month high of $48.31. The stock has a market capitalization of $367.46 million, a PE ratio of -5.08 and a beta of 2.32.

Hedge Funds Weigh In On Tourmaline Bio

Several institutional investors and hedge funds have recently modified their holdings of the stock. Adage Capital Partners GP L.L.C. bought a new position in Tourmaline Bio during the fourth quarter valued at approximately $12,168,000. Point72 Asset Management L.P. bought a new stake in Tourmaline Bio during the 3rd quarter valued at approximately $8,701,000. Pictet Asset Management Holding SA boosted its position in shares of Tourmaline Bio by 69.9% in the fourth quarter. Pictet Asset Management Holding SA now owns 419,883 shares of the company’s stock valued at $8,515,000 after acquiring an additional 172,743 shares during the period. Schonfeld Strategic Advisors LLC boosted its holdings in Tourmaline Bio by 50.5% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 298,239 shares of the company’s stock valued at $6,048,000 after purchasing an additional 100,139 shares during the period. Finally, Velan Capital Investment Management LP grew its position in Tourmaline Bio by 28.0% during the fourth quarter. Velan Capital Investment Management LP now owns 423,795 shares of the company’s stock worth $8,595,000 after buying an additional 92,605 shares in the last quarter. 91.89% of the stock is currently owned by hedge funds and other 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.