Tourmaline Bio, Inc. (NASDAQ:TRML) Short Interest Up 20.9% in April

Tourmaline Bio, Inc. (NASDAQ:TRML) saw a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 1,790,000 shares, an increase of 20.9% from the March 31st total of 1,480,000 shares. Approximately 11.6% of the shares of the company are short sold. Based on an average daily trading volume, of 438,000 shares, the days-to-cover ratio is currently 4.1 days.

Analyst Ratings Changes

A number of research analysts have recently weighed in on TRML shares. Truist Financial reissued a “buy” rating and set a $74.00 target price on shares of Tourmaline Bio in a research report on Monday, March 25th. HC Wainwright restated a “buy” rating and issued a $48.00 target price on shares of Tourmaline Bio in a research note on Wednesday, March 20th. Finally, Jefferies Financial Group upped their price target on Tourmaline Bio from $41.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $61.80.

Tourmaline Bio Stock Up 2.1 %

Tourmaline Bio stock opened at $15.83 on Wednesday. Tourmaline Bio has a 1-year low of $9.18 and a 1-year high of $48.31. The company has a market cap of $406.04 million, a price-to-earnings ratio of -1.39 and a beta of 2.33. The business’s 50 day moving average price is $29.03.

Tourmaline Bio (NASDAQ:TRML) last issued its quarterly earnings data on Tuesday, March 19th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.06). As a group, research analysts anticipate that Tourmaline Bio will post -2.9 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. BML Capital Management LLC bought a new position in shares of Tourmaline Bio in the 4th quarter worth $6,427,000. Vivo Capital LLC bought a new position in Tourmaline Bio in the fourth quarter valued at $15,495,000. Jump Financial LLC purchased a new stake in Tourmaline Bio during the fourth quarter valued at about $380,000. Affinity Asset Advisors LLC purchased a new stake in Tourmaline Bio during the fourth quarter valued at about $1,782,000. Finally, RTW Investments LP bought a new stake in Tourmaline Bio during the fourth quarter worth about $10,442,000. 91.89% of the stock is currently owned by institutional investors.

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.