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Buying Buzz: Tourmaline Bio Inc [TRML] Director MCDADE MARK acquires 100,000 shares of the company

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Tourmaline Bio Inc shares valued at $3,250,000 were purchased by MCDADE MARK on Jan 29 ’24. At $32.50 per share, MCDADE MARK acquired 100,000 shares. The insider’s holdings grew to 448,431 shares worth approximately $7.04 million following the completion of this transaction.

Also, Kulkarni Sandeep Chidambar purchased 4,000 shares, netting a total of over 67,960 in proceeds. Following the buying of shares at $16.99 each, the insider now holds 729,735 shares.

Before that, Thiara Parvinder had added 1,000 shares to its account. In a trade valued at $17,310, the Director bought Tourmaline Bio Inc shares for $17.31 each. Upon closing the transaction, the insider’s holdings increased to 1,000 shares, worth approximately $1.32 million.

As published in their initiating research note from Jefferies on December 15, 2023, Tourmaline Bio Inc [TRML] has been a Buy and the price target has been revised to $41. As of November 17, 2023, Truist has initiated its “Buy” rating for TRML. Earlier on October 31, 2023, Guggenheim initiated its rating. Their recommendation was “a Buy” for TRML stock.

Analyzing TRML Stock Performance

During the last five days, there has been a surge of approximately 1.95%. Over the course of the year, Tourmaline Bio Inc shares have dropped approximately -39.99%. Shares of the company reached a 52-week high of $48.31 on 03/13/24 and a 52-week low of $14.70 on 04/25/24. A 50-day SMA is recorded $28.47, while a 200-day SMA reached $26.87. Nevertheless, trading volume fell to 0.3 million shares from 0.25 million shares the previous day.

Support And Resistance Levels for Tourmaline Bio Inc (TRML)

According to the 24-hour chart, there is a support level at 15.33, which, if violated, would cause prices to drop to 14.95. In the upper region, resistance lies at 16.33. The next price resistance is at 16.96. RSI (Relative Strength Index) is 27.98 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.71, which suggests the price will decrease in the coming days. Percent R is at 84.14%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

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