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

Tourmaline Bio, Inc. (NASDAQ:TRML) was the recipient of a large growth in short interest in April. As of April 15th, there was short interest totalling 1,790,000 shares, a growth of 20.9% from the March 31st total of 1,480,000 shares. Approximately 11.6% of the company’s shares are short sold. Based on an average daily volume of 438,000 shares, the short-interest ratio is presently 4.1 days.

Wall Street Analysts Forecast Growth

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

Tourmaline Bio Price Performance

Tourmaline Bio stock traded up $0.15 during mid-day trading on Tuesday, reaching $15.65. The stock had a trading volume of 171,267 shares, compared to its average volume of 381,507. Tourmaline Bio has a one year low of $9.18 and a one year high of $48.31. The company’s 50-day moving average price is $29.03.

Tourmaline Bio (NASDAQ:TRML) last issued its earnings results on Tuesday, March 19th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by ($0.06). On average, equities analysts expect that Tourmaline Bio will post -2.9 EPS for the current fiscal year.

Institutional Investors Weigh In On Tourmaline Bio

Several institutional investors have recently modified their holdings of TRML. China Universal Asset Management Co. Ltd. raised its position in Tourmaline Bio by 109.5% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 4,939 shares of the company’s stock worth $113,000 after buying an additional 2,582 shares during the last quarter. Denali Advisors LLC purchased a new stake in shares of Tourmaline Bio during the 1st quarter valued at about $128,000. Jump Financial LLC bought a new stake in shares of Tourmaline Bio in the fourth quarter worth approximately $380,000. Affinity Asset Advisors LLC purchased a new position in shares of Tourmaline Bio during the fourth quarter valued at approximately $1,782,000. Finally, BML Capital Management LLC bought a new position in Tourmaline Bio during the fourth quarter valued at approximately $6,427,000. 91.89% of the stock is owned by hedge funds and other institutional investors.

About Tourmaline Bio

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.