Tourmaline Bio (NASDAQ:TRML) Lowered to “Hold” Rating by Jefferies Financial Group

by · The Cerbat Gem

Jefferies Financial Group cut shares of Tourmaline Bio (NASDAQ:TRML – Free Report) from a buy rating to a hold rating in a research note issued to investors on Tuesday, MarketBeat reports. The brokerage currently has $47.50 price target on the stock, down from their prior price target of $64.00.

TRML has been the topic of a number of other reports. Guggenheim reaffirmed a “buy” rating and issued a $55.00 target price on shares of Tourmaline Bio in a report on Thursday, August 14th. Lifesci Capital cut shares of Tourmaline Bio from an “outperform” rating to a “hold” rating and set a $48.00 target price on the stock. in a report on Tuesday. Wedbush cut shares of Tourmaline Bio from an “outperform” rating to a “neutral” rating and set a $48.00 target price on the stock. in a report on Tuesday. Finally, Chardan Capital reissued a “buy” rating and issued a $70.00 price target on shares of Tourmaline Bio in a report on Thursday, August 14th. Two equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $45.85.

Get Our Latest Analysis on Tourmaline Bio

Tourmaline Bio Stock Performance

Shares of TRML stock opened at $47.60 on Tuesday. The firm’s 50-day moving average is $22.92 and its 200-day moving average is $18.34. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of -13.88 and a beta of 2.04. Tourmaline Bio has a 52-week low of $11.56 and a 52-week high of $47.69.

Tourmaline Bio (NASDAQ:TRML – Get Free Report) last issued its earnings results on Wednesday, August 13th. The company reported ($0.90) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.94) by $0.04. Sell-side analysts predict that Tourmaline Bio will post -3.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. QVT Financial LP raised its holdings in Tourmaline Bio by 46.2% in the 2nd quarter. QVT Financial LP now owns 2,154,653 shares of the company’s stock valued at $34,453,000 after acquiring an additional 681,284 shares during the period. Vanguard Group Inc. raised its holdings in Tourmaline Bio by 7.7% in the 1st quarter. Vanguard Group Inc. now owns 1,190,810 shares of the company’s stock valued at $18,112,000 after acquiring an additional 84,685 shares during the period. Octagon Capital Advisors LP acquired a new position in shares of Tourmaline Bio during the 1st quarter worth approximately $13,765,000. Balyasny Asset Management L.P. grew its position in shares of Tourmaline Bio by 2.0% during the 2nd quarter. Balyasny Asset Management L.P. now owns 604,561 shares of the company’s stock worth $9,667,000 after purchasing an additional 11,586 shares in the last quarter. Finally, Nantahala Capital Management LLC grew its position in shares of Tourmaline Bio by 4.8% during the 2nd quarter. Nantahala Capital Management LLC now owns 558,187 shares of the company’s stock worth $8,925,000 after purchasing an additional 25,363 shares in the last quarter. 91.89% of the stock is owned by institutional investors.

About Tourmaline Bio

(Get Free Report)

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.

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