Tourmaline Bio (NASDAQ:TRML) Now Covered by Analysts at Lifesci Capital

Investment analysts at Lifesci Capital started coverage on shares of Tourmaline Bio (NASDAQ:TRML) in a research note issued on Monday,Benzinga reports. The brokerage set an “outperform” rating and a $58.00 price target on the stock. Lifesci Capital’s price target would indicate a potential upside of 381.49% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. Guggenheim reissued a “buy” rating on shares of Tourmaline Bio in a research report on Wednesday, December 11th. HC Wainwright reissued a “buy” rating and set a $49.00 target price on shares of Tourmaline Bio in a report on Wednesday, December 11th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $25.00 price target on shares of Tourmaline Bio in a report on Wednesday, December 11th. Finally, BMO Capital Markets began coverage on shares of Tourmaline Bio in a report on Friday, December 6th. They issued an “outperform” rating and a $50.00 price objective on the stock. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $54.67.

Tourmaline Bio Price Performance

TRML stock traded down $0.16 during trading hours on Monday, reaching $12.05. The stock had a trading volume of 81,674 shares, compared to its average volume of 287,104. The stock has a market capitalization of $308.90 million, a PE ratio of -4.26 and a beta of 2.32. The stock has a 50-day simple moving average of $17.73 and a 200 day simple moving average of $20.95. Tourmaline Bio has a fifty-two week low of $11.87 and a fifty-two week high of $48.31.

Institutional Investors Weigh In On Tourmaline Bio

A number of hedge funds and other institutional investors have recently modified their holdings of TRML. Woodline Partners LP increased its position in Tourmaline Bio by 1.6% during the fourth quarter. Woodline Partners LP now owns 161,721 shares of the company’s stock worth $3,280,000 after acquiring an additional 2,567 shares during the period. Velan Capital Investment Management LP increased its holdings in shares of Tourmaline Bio by 28.0% during the fourth quarter. Velan Capital Investment Management LP now owns 423,795 shares of the company’s stock worth $8,595,000 after purchasing an additional 92,605 shares during the period. Wexford Capital LP acquired a new stake in shares of Tourmaline Bio in the fourth quarter valued at approximately $418,000. Stempoint Capital LP boosted its stake in shares of Tourmaline Bio by 127.7% in the fourth quarter. Stempoint Capital LP now owns 126,400 shares of the company’s stock valued at $2,563,000 after buying an additional 70,877 shares during the period. Finally, Rafferty Asset Management LLC bought a new stake in shares of Tourmaline Bio in the fourth quarter valued at approximately $605,000. 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.