Tourmaline Bio (NASDAQ:TRML) Rating Reiterated by HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Tourmaline Bio (NASDAQ:TRML) in a report released on Monday, Benzinga reports. HC Wainwright currently has a $48.00 price target on the stock. HC Wainwright also issued estimates for Tourmaline Bio’s Q3 2024 earnings at ($0.75) EPS, Q4 2024 earnings at ($0.80) EPS, FY2024 earnings at ($2.79) EPS, Q3 2025 earnings at ($0.85) EPS, Q4 2025 earnings at ($0.86) EPS and FY2025 earnings at ($3.39) EPS.

Tourmaline Bio Trading Up 1.2 %

NASDAQ:TRML opened at $13.67 on Monday. Tourmaline Bio has a twelve month low of $9.18 and a twelve month high of $48.31. The firm has a 50-day moving average price of $14.82 and a two-hundred day moving average price of $22.18. The company has a market capitalization of $350.59 million, a P/E ratio of -2.10 and a beta of 2.31.

Tourmaline Bio (NASDAQ:TRML) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.68) EPS for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.04. On average, equities research analysts predict that Tourmaline Bio will post -2.94 earnings per share for the current year.

Institutional Trading of Tourmaline Bio

Several institutional investors and hedge funds have recently bought and sold shares of the company. Avoro Capital Advisors LLC grew its position in shares of Tourmaline Bio by 155.9% during the first quarter. Avoro Capital Advisors LLC now owns 2,222,222 shares of the company’s stock worth $50,889,000 after acquiring an additional 1,353,815 shares during the last quarter. Blue Owl Capital Holdings LP grew its position in Tourmaline Bio by 18.5% during the 2nd quarter. Blue Owl Capital Holdings LP now owns 1,715,401 shares of the company’s stock worth $22,060,000 after purchasing an additional 268,000 shares in the last quarter. Jennison Associates LLC purchased a new position in Tourmaline Bio during the first quarter valued at approximately $25,539,000. Vanguard Group Inc. grew its stake in Tourmaline Bio by 19.7% in the first quarter. Vanguard Group Inc. now owns 914,519 shares of the company’s stock valued at $20,942,000 after purchasing an additional 150,767 shares in the last quarter. Finally, Braidwell LP acquired a new stake in shares of Tourmaline Bio in the 4th quarter valued at $23,741,000. Institutional investors and hedge funds 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.