Wall Street Zen Upgrades Tourmaline Bio (NASDAQ:TRML) to “Sell”

Tourmaline Bio (NASDAQ:TRML) was upgraded by equities research analysts at Wall Street Zen to a “sell” rating in a research report issued on Saturday.

Several other equities research analysts have also recently commented on the stock. HC Wainwright cut shares of Tourmaline Bio from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $50.00 to $48.00 in a research report on Wednesday, September 10th. Chardan Capital cut shares of Tourmaline Bio from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $70.00 to $48.00 in a report on Wednesday, September 10th. Lifesci Capital cut shares of Tourmaline Bio from an “outperform” rating to a “hold” rating and set a $48.00 price objective for the company. in a report on Tuesday, September 9th. BMO Capital Markets cut shares of Tourmaline Bio from an “outperform” rating to a “market perform” rating and boosted their price objective for the company from $35.00 to $48.00 in a report on Monday, September 15th. Finally, Truist Financial cut shares of Tourmaline Bio from a “buy” rating to a “hold” rating and decreased their price objective for the company from $63.00 to $48.00 in a report on Wednesday, September 10th. One research analyst has rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $45.65.

Tourmaline Bio Price Performance

Shares of NASDAQ:TRML opened at $47.98 on Friday. Tourmaline Bio has a one year low of $11.56 and a one year high of $48.27. The company has a 50 day moving average of $42.72 and a 200-day moving average of $26.84. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of -13.99 and a beta of 2.27.

Tourmaline Bio (NASDAQ:TRML) last issued its quarterly earnings results on Wednesday, August 13th. The company reported ($0.90) EPS for the quarter, topping the consensus estimate of ($0.94) by $0.04. Equities research analysts anticipate that Tourmaline Bio will post -3.02 earnings per share for the current year.

Institutional Trading of Tourmaline Bio

A number of institutional investors have recently made changes to their positions in the business. Wolverine Asset Management LLC bought a new stake in shares of Tourmaline Bio in the third quarter worth $580,000. Farther Finance Advisors LLC lifted its position in shares of Tourmaline Bio by 114.2% in the third quarter. Farther Finance Advisors LLC now owns 2,146 shares of the company’s stock worth $103,000 after purchasing an additional 1,144 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Tourmaline Bio by 35.7% in the second quarter. Tower Research Capital LLC TRC now owns 3,214 shares of the company’s stock worth $51,000 after purchasing an additional 846 shares in the last quarter. BBR Partners LLC lifted its position in shares of Tourmaline Bio by 50.0% in the second quarter. BBR Partners LLC now owns 15,000 shares of the company’s stock worth $240,000 after purchasing an additional 5,000 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of Tourmaline Bio by 34.1% in the second quarter. BNP Paribas Financial Markets now owns 2,103 shares of the company’s stock worth $34,000 after purchasing an additional 535 shares in the last quarter. 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.