Tourmaline Bio, Inc. (NASDAQ:TRML) Short Interest Update

Tourmaline Bio, Inc. (NASDAQ:TRML) was the recipient of a significant increase in short interest in January. As of January 15th, there was short interest totalling 2,080,000 shares, an increase of 26.8% from the December 31st total of 1,640,000 shares. Currently, 13.8% of the company’s stock are short sold. Based on an average trading volume of 197,500 shares, the days-to-cover ratio is currently 10.5 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TRML. Rhumbline Advisers grew its holdings in Tourmaline Bio by 2.1% during the fourth quarter. Rhumbline Advisers now owns 35,591 shares of the company’s stock valued at $722,000 after purchasing an additional 718 shares during the period. SG Americas Securities LLC lifted its position in shares of Tourmaline Bio by 3.4% during the 4th quarter. SG Americas Securities LLC now owns 34,812 shares of the company’s stock valued at $706,000 after buying an additional 1,140 shares during the last quarter. Brooklyn Investment Group bought a new position in shares of Tourmaline Bio during the 4th quarter worth $32,000. JPMorgan Chase & Co. increased its holdings in Tourmaline Bio by 16.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 14,804 shares of the company’s stock worth $381,000 after acquiring an additional 2,100 shares during the last quarter. Finally, Barclays PLC raised its stake in Tourmaline Bio by 283.7% in the 3rd quarter. Barclays PLC now owns 31,833 shares of the company’s stock valued at $819,000 after acquiring an additional 23,536 shares during the period. 91.89% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TRML has been the topic of a number of recent research reports. HC Wainwright reiterated a “buy” rating and issued a $49.00 target price on shares of Tourmaline Bio in a report on Wednesday, December 11th. BMO Capital Markets initiated coverage on shares of Tourmaline Bio in a research note on Friday, December 6th. They issued an “outperform” rating and a $50.00 price objective on the stock. Guggenheim reissued a “buy” rating on shares of Tourmaline Bio in a research report on Wednesday, December 11th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $25.00 target price on shares of Tourmaline Bio in a report on Wednesday, December 11th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Tourmaline Bio currently has a consensus rating of “Buy” and an average target price of $54.00.

Tourmaline Bio Stock Performance

NASDAQ:TRML traded down $0.34 on Friday, hitting $16.06. The stock had a trading volume of 326,923 shares, compared to its average volume of 236,051. Tourmaline Bio has a 1 year low of $12.12 and a 1 year high of $48.31. The firm’s fifty day simple moving average is $21.10 and its two-hundred day simple moving average is $21.07. The stock has a market cap of $411.78 million, a P/E ratio of -5.70 and a beta of 2.36.

Tourmaline Bio (NASDAQ:TRML) last released its earnings results on Thursday, November 7th. The company reported ($0.78) EPS for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.06. Equities research analysts predict that Tourmaline Bio will post -2.99 EPS for the current year.

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.