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

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

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

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

Tourmaline Bio Stock Up 5.8 %

TRML opened at $17.65 on Tuesday. 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, Inc. has a fifty-two week low of $8.90 and a fifty-two week high of $32.90.

Wall Street Analysts Forecast Growth

TRML has been the subject of a number of research analyst reports. Piper Sandler initiated coverage on shares of Tourmaline Bio in a research note on Wednesday, October 25th. They issued an “overweight” rating and a $65.00 target price for the company. Truist Financial initiated coverage on shares of Tourmaline Bio in a research note on Friday. They issued a “buy” rating and a $43.00 target price for the company. Finally, Guggenheim initiated coverage on shares of Tourmaline Bio in a research note on Tuesday, October 31st. They issued a “buy” rating and a $50.00 target price for the company.

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.