Tourmaline Bio, Inc. (NASDAQ:TRML) Forecasted to Post Q1 2024 Earnings of ($0.70) Per Share

Tourmaline Bio, Inc. (NASDAQ:TRMLFree Report) – Investment analysts at HC Wainwright lifted their Q1 2024 earnings estimates for Tourmaline Bio in a report released on Wednesday, March 20th. HC Wainwright analyst Y. Chen now expects that the company will post earnings per share of ($0.70) for the quarter, up from their previous forecast of ($0.74). HC Wainwright currently has a “Buy” rating and a $48.00 price objective on the stock. The consensus estimate for Tourmaline Bio’s current full-year earnings is ($3.02) per share. HC Wainwright also issued estimates for Tourmaline Bio’s Q2 2024 earnings at ($0.66) EPS, Q3 2024 earnings at ($0.66) EPS, Q4 2024 earnings at ($0.70) EPS and FY2024 earnings at ($2.72) EPS.

TRML has been the subject of several other research reports. Leerink Partnrs reaffirmed an “outperform” rating on shares of Tourmaline Bio in a research report on Thursday, December 7th. Jefferies Financial Group raised their price objective on Tourmaline Bio from $41.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday. Six research analysts have rated the stock with a buy rating, According to data from, the stock presently has an average rating of “Buy” and an average price target of $55.60.

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Tourmaline Bio Trading Down 13.8 %

Shares of NASDAQ:TRML opened at $24.67 on Friday. The company has a 50 day moving average price of $37.48. Tourmaline Bio has a 52 week low of $9.18 and a 52 week high of $48.31. The stock has a market cap of $501.79 million, a P/E ratio of -2.17 and a beta of 2.45.

Hedge Funds Weigh In On Tourmaline Bio

Institutional investors have recently modified their holdings of the company. Bridgeway Capital Management LLC bought a new position in Tourmaline Bio in the 4th quarter worth $841,000. Braidwell LP acquired a new stake in shares of Tourmaline Bio in the fourth quarter valued at about $23,741,000. Cubist Systematic Strategies LLC bought a new position in shares of Tourmaline Bio in the fourth quarter worth about $399,000. Avoro Capital Advisors LLC bought a new stake in Tourmaline Bio during the 4th quarter valued at approximately $22,735,000. Finally, Balyasny Asset Management L.P. acquired a new stake in Tourmaline Bio in the 4th quarter valued at approximately $9,009,000. Institutional investors own 67.61% of the company’s stock.

Insider Transactions at Tourmaline Bio

In other Tourmaline Bio news, Director Mark Mcdade bought 100,000 shares of Tourmaline Bio stock in a transaction on Monday, January 29th. The stock was purchased at an average cost of $32.50 per share, for a total transaction of $3,250,000.00. Following the completion of the purchase, the director now directly owns 448,431 shares of the company’s stock, valued at $14,574,007.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 16.50% of the company’s stock.

About Tourmaline Bio

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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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