Tourmaline Bio (NASDAQ:TRML) Now Covered by Analysts at Truist Financial

Truist Financial assumed coverage on shares of Tourmaline Bio (NASDAQ:TRML) in a report issued on Friday, MarketBeat.com reports. The brokerage issued a buy rating and a $43.00 price target on the stock.

A number of other brokerages also recently commented on TRML. Guggenheim started coverage on Tourmaline Bio in a research report on Tuesday, October 31st. They set a buy rating and a $50.00 price target for the company. Piper Sandler assumed coverage on Tourmaline Bio in a report on Wednesday, October 25th. They set an overweight rating and a $65.00 price objective for the company.

Tourmaline Bio Price Performance

Shares of TRML opened at $17.65 on Friday. The company has a market cap of $75.54 million, a P/E ratio of -1.18 and a beta of 2.26. Tourmaline Bio has a 12 month low of $8.90 and a 12 month high of $32.90.

Insider Buying and Selling at Tourmaline Bio

In related news, CEO Sandeep Chidambar Kulkarni purchased 5,000 shares of the business’s stock in a transaction dated Thursday, October 26th. The stock was purchased at an average cost of $12.25 per share, with a total value of $61,250.00. Following the completion of the acquisition, the chief executive officer now directly owns 725,735 shares of the company’s stock, valued at $8,890,253.75. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Sandeep Chidambar Kulkarni purchased 5,000 shares of the business’s stock in a transaction dated Thursday, October 26th. The stock was purchased at an average cost of $12.25 per share, with a total value of $61,250.00. Following the completion of the acquisition, the chief executive officer now directly owns 725,735 shares of the company’s stock, valued at $8,890,253.75. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Caley Castelein purchased 15,800 shares of the business’s stock in a transaction dated Friday, October 27th. The stock was bought at an average cost of $14.55 per share, with a total value of $229,890.00. Following the completion of the acquisition, the director now directly owns 516,519 shares of the company’s stock, valued at $7,515,351.45. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 37,950 shares of company stock valued at $515,022. Company insiders own 16.50% 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 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.