5,600 Shares in Tourmaline Bio, Inc. (NASDAQ:TRML) Bought by Denali Advisors LLC

Denali Advisors LLC bought a new position in shares of Tourmaline Bio, Inc. (NASDAQ:TRML) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 5,600 shares of the company’s stock, valued at approximately $128,000.

A number of other hedge funds have also bought and sold shares of TRML. BML Capital Management LLC bought a new position in Tourmaline Bio during the fourth quarter worth $6,427,000. Vivo Capital LLC bought a new position in Tourmaline Bio during the fourth quarter worth $15,495,000. Jump Financial LLC bought a new position in Tourmaline Bio during the fourth quarter worth $380,000. Affinity Asset Advisors LLC bought a new position in Tourmaline Bio during the fourth quarter worth $1,782,000. Finally, RTW Investments LP bought a new position in Tourmaline Bio during the fourth quarter worth $10,442,000. Institutional investors own 91.89% of the company’s stock.

Tourmaline Bio Stock Up 2.2 %

Tourmaline Bio stock traded up $0.28 during midday trading on Wednesday, hitting $12.83. 140,421 shares of the stock were exchanged, compared to its average volume of 380,822. Tourmaline Bio, Inc. has a 52-week low of $9.18 and a 52-week high of $48.31. The stock has a market capitalization of $329.09 million, a price-to-earnings ratio of -1.93 and a beta of 2.30. The business’s 50-day moving average price is $14.70 and its 200-day moving average price is $25.18.

Tourmaline Bio (NASDAQ:TRML) last released its quarterly earnings results on Monday, May 13th. The company reported ($0.55) earnings per share for the quarter, topping the consensus estimate of ($0.68) by $0.13. On average, sell-side analysts predict that Tourmaline Bio, Inc. will post -2.94 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Truist Financial reaffirmed a “buy” rating and issued a $74.00 price target on shares of Tourmaline Bio in a research note on Monday, March 25th. HC Wainwright reaffirmed a “buy” rating and issued a $48.00 price target on shares of Tourmaline Bio in a research note on Tuesday, May 14th. Finally, Jefferies Financial Group lifted their price target on shares of Tourmaline Bio from $41.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $61.80.

Tourmaline Bio 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.