Tourmaline Bio, Inc. to Post FY2024 Earnings of ($2.85) Per Share, Cantor Fitzgerald Forecasts (NASDAQ:TRML)

Tourmaline Bio, Inc. (NASDAQ:TRML) – Stock analysts at Cantor Fitzgerald issued their FY2024 EPS estimates for shares of Tourmaline Bio in a research report issued on Tuesday, October 15th. Cantor Fitzgerald analyst J. Schimmer expects that the company will post earnings of ($2.85) per share for the year. Cantor Fitzgerald currently has a “Strong-Buy” rating on the stock. The consensus estimate for Tourmaline Bio’s current full-year earnings is ($3.12) per share.

Tourmaline Bio (NASDAQ:TRML) last announced 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.

Separately, HC Wainwright restated a “buy” rating and set a $48.00 price objective on shares of Tourmaline Bio in a report on Monday, August 12th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Tourmaline Bio presently has an average rating of “Buy” and a consensus target price of $61.80.

Tourmaline Bio Stock Up 8.0 %

Shares of TRML stock opened at $27.80 on Thursday. The stock has a 50-day moving average of $20.02 and a 200-day moving average of $17.21. Tourmaline Bio has a one year low of $9.18 and a one year high of $48.31.

Insider Activity at Tourmaline Bio

In related news, CEO Sandeep Chidambar Kulkarni bought 5,221 shares of the company’s stock in a transaction on Friday, August 16th. The shares were purchased at an average cost of $13.79 per share, for a total transaction of $71,997.59. Following the acquisition, the chief executive officer now owns 5,221 shares of the company’s stock, valued at approximately $71,997.59. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 11.02% of the stock is owned by insiders.

Institutional Trading of Tourmaline Bio

Hedge funds and other institutional investors have recently modified their holdings of the company. Avoro Capital Advisors LLC boosted 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 buying an additional 1,353,815 shares during the period. Blue Owl Capital Holdings LP boosted 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 acquiring an additional 268,000 shares during the last quarter. Jennison Associates LLC acquired a new stake in shares of Tourmaline Bio in the first quarter valued at approximately $25,539,000. Vanguard Group Inc. grew its position 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, Qiming U.S. Ventures Management LLC increased its stake in Tourmaline Bio by 15.6% in the 1st quarter. Qiming U.S. Ventures Management LLC now owns 741,691 shares of the company’s stock valued at $16,985,000 after buying an additional 100,000 shares during the last quarter. Institutional investors and hedge funds own 91.89% of the company’s stock.

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.