Wedbush Issues Positive Forecast for Tourmaline Bio (NASDAQ:TRML) Stock Price

Tourmaline Bio (NASDAQ:TRML) had its price target raised by research analysts at Wedbush from $42.00 to $43.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Wedbush’s price objective points to a potential upside of 141.03% from the company’s previous close.

A number of other research firms also recently commented on TRML. BMO Capital Markets initiated coverage on shares of Tourmaline Bio in a research report on Friday, December 6th. They issued an “outperform” rating and a $50.00 target price on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $25.00 target price on shares of Tourmaline Bio in a research report on Wednesday, December 11th. Guggenheim reaffirmed a “buy” rating on shares of Tourmaline Bio in a research report on Wednesday, December 11th. Lifesci Capital began coverage on Tourmaline Bio in a report on Monday, February 24th. They issued an “outperform” rating and a $58.00 price objective for the company. Finally, HC Wainwright lifted their target price on shares of Tourmaline Bio from $49.00 to $50.00 and gave the company a “buy” rating in a report on Friday. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Tourmaline Bio has a consensus rating of “Buy” and an average target price of $53.14.

Tourmaline Bio Price Performance

Shares of NASDAQ TRML traded up $0.80 during mid-day trading on Friday, hitting $17.84. The company had a trading volume of 32,578 shares, compared to its average volume of 277,646. The company has a market capitalization of $457.47 million, a PE ratio of -6.34 and a beta of 2.35. The business’s 50-day simple moving average is $15.83 and its 200 day simple moving average is $20.84. Tourmaline Bio has a 1-year low of $11.87 and a 1-year high of $45.55.

Institutional Trading of Tourmaline Bio

Several institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC increased its stake in Tourmaline Bio by 6.4% in the third quarter. Geode Capital Management LLC now owns 482,078 shares of the company’s stock valued at $12,396,000 after purchasing an additional 29,005 shares during the last quarter. Wellington Management Group LLP increased its position in Tourmaline Bio by 72.8% during the third quarter. Wellington Management Group LLP now owns 65,741 shares of the company’s stock worth $1,690,000 after purchasing an additional 27,707 shares during the last quarter. State Street Corp boosted its holdings in shares of Tourmaline Bio by 25.6% in the 3rd quarter. State Street Corp now owns 411,980 shares of the company’s stock valued at $10,592,000 after purchasing an additional 83,949 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Tourmaline Bio by 3.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 63,571 shares of the company’s stock valued at $1,634,000 after buying an additional 2,147 shares during the period. Finally, Barclays PLC raised its position in shares of Tourmaline Bio by 283.7% in the 3rd quarter. Barclays PLC now owns 31,833 shares of the company’s stock worth $819,000 after buying an additional 23,536 shares during the period. Hedge funds and other institutional investors 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.