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

Denali Advisors LLC acquired a new stake in Tourmaline Bio, Inc. (NASDAQ:TRML) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,600 shares of the company’s stock, valued at approximately $128,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TRML. BML Capital Management LLC bought a new stake in Tourmaline Bio in the fourth quarter valued at about $6,427,000. Vivo Capital LLC bought a new position in shares of Tourmaline Bio during the fourth quarter valued at approximately $15,495,000. Jump Financial LLC bought a new position in shares of Tourmaline Bio during the fourth quarter valued at approximately $380,000. Affinity Asset Advisors LLC bought a new position in shares of Tourmaline Bio during the fourth quarter valued at approximately $1,782,000. Finally, RTW Investments LP bought a new position in shares of Tourmaline Bio during the fourth quarter valued at approximately $10,442,000. 91.89% of the stock is owned by institutional investors.

Tourmaline Bio Stock Up 2.2 %

Shares of TRML traded up $0.28 during mid-day trading on Wednesday, reaching $12.83. The company’s stock had a trading volume of 140,421 shares, compared to its average volume of 380,822. The business has a fifty day moving average of $14.70 and a 200 day moving average of $25.18. The company has a market cap of $329.09 million, a price-to-earnings ratio of -1.93 and a beta of 2.30. Tourmaline Bio, Inc. has a 1 year low of $9.18 and a 1 year high of $48.31.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. HC Wainwright reissued a “buy” rating and issued a $48.00 price objective on shares of Tourmaline Bio in a report on Tuesday, May 14th. Truist Financial restated a “buy” rating and issued a $74.00 target price on shares of Tourmaline Bio in a research report on Monday, March 25th. Finally, Jefferies Financial Group upped their target price on Tourmaline Bio from $41.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Tourmaline Bio presently has an average rating of “Buy” and an average price target of $61.80.

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.