Sandeep Chidambar Kulkarni Purchases 4,000 Shares of Tourmaline Bio, Inc. (NASDAQ:TRML) Stock

Tourmaline Bio, Inc. (NASDAQ:TRML) CEO Sandeep Chidambar Kulkarni purchased 4,000 shares of the firm’s stock in a transaction dated Friday, November 17th. The shares were bought at an average cost of $16.99 per share, with a total value of $67,960.00. Following the purchase, the chief executive officer now directly owns 729,735 shares of the company’s stock, valued at approximately $12,398,197.65. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.

Sandeep Chidambar Kulkarni also recently made the following trade(s):

• On Thursday, October 26th, Sandeep Chidambar Kulkarni acquired 5,000 shares of Tourmaline Bio stock. The stock was acquired at an average cost of $12.25 per share, with a total value of $61,250.00.
• On Tuesday, October 24th, Sandeep Chidambar Kulkarni acquired 4,650 shares of Tourmaline Bio stock. The stock was acquired at an average cost of $10.68 per share, with a total value of $49,662.00.

Tourmaline Bio Trading Up 5.8 %

NASDAQ TRML traded up $0.97 on Monday, hitting $17.65. The stock had a trading volume of 30,207 shares, compared to its average volume of 41,895. Tourmaline Bio, Inc. has a 52-week low of $8.90 and a 52-week high of $32.90. The firm has a market capitalization of $75.54 million, a P/E ratio of -1.18 and a beta of 2.26.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TRML. Truist Financial began coverage on shares of Tourmaline Bio in a research note on Friday. They issued a “buy” rating and a $43.00 price objective for the company. Guggenheim initiated coverage on shares of Tourmaline Bio in a report on Tuesday, October 31st. They issued a “buy” rating and a $50.00 price target on the stock. Finally, Piper Sandler initiated coverage on shares of Tourmaline Bio in a report on Wednesday, October 25th. They issued an “overweight” rating and a $65.00 price target on the stock.

About Tourmaline Bio

Tourmaline Bio, Inc operates as a clinical biotechnology company that develops medicines for patients with life-altering immune diseases. It develops medicines and therapies for the Atherosclerotic cardiovascular disease (ASCVD) and Thyroid Eye Disease (TED). The company was incorporated in 2021 and is based in New York, New York.