Truist Financial Reiterates Buy Rating for Tourmaline Bio (NASDAQ:TRML)

Truist Financial reaffirmed their buy rating on shares of Tourmaline Bio (NASDAQ:TRML) in a research report sent to investors on Monday morning, Benzinga reports. Truist Financial currently has a $74.00 price target on the stock.

TRML has been the subject of several other research reports. Jefferies Financial Group upped their price objective on shares of Tourmaline Bio from $41.00 to $72.00 and gave the stock a buy rating in a research report on Wednesday, March 20th. HC Wainwright reissued a buy rating and issued a $48.00 price objective on shares of Tourmaline Bio in a research note on Wednesday, March 20th. Finally, Leerink Partnrs reaffirmed an outperform rating on shares of Tourmaline Bio in a report on Thursday, December 7th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Tourmaline Bio has an average rating of Buy and an average price target of $61.80.

Tourmaline Bio Stock Performance

Tourmaline Bio stock opened at $22.90 on Monday. The company has a market cap of $465.79 million, a price-to-earnings ratio of -2.02 and a beta of 2.45. The business’s fifty day moving average is $37.01. Tourmaline Bio has a one year low of $9.18 and a one year high of $48.31.

Insider Activity

In other news, Director Mark Mcdade bought 100,000 shares of the stock in a transaction on Monday, January 29th. The stock was acquired at an average price of $32.50 per share, with a total value of $3,250,000.00. Following the acquisition, the director now directly owns 448,431 shares in the company, valued at $14,574,007.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 16.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tourmaline Bio

Large investors have recently modified their holdings of the business. Northern Trust Corp acquired a new stake in Tourmaline Bio in the fourth quarter valued at $586,000. Dimensional Fund Advisors LP acquired a new position in shares of Tourmaline Bio in the fourth quarter worth approximately $546,000. Cubist Systematic Strategies LLC bought a new stake in Tourmaline Bio in the fourth quarter valued at approximately $399,000. Goldman Sachs Group Inc. acquired a new stake in Tourmaline Bio during the 4th quarter valued at approximately $236,000. Finally, Great Point Partners LLC bought a new position in Tourmaline Bio during the 4th quarter worth approximately $17,616,000. 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.