Alyeska Investment Group L.P. Sells 75,000 Shares of Tourmaline Bio, Inc. (NASDAQ:TRML)

Alyeska Investment Group L.P. decreased its stake in Tourmaline Bio, Inc. (NASDAQ:TRML - Free Report) by 39.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 115,053 shares of the company's stock after selling 75,000 shares during the quarter. Alyeska Investment Group L.P. owned 0.45% of Tourmaline Bio worth $2,333,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Brooklyn Investment Group acquired a new position in shares of Tourmaline Bio in the 4th quarter valued at approximately $32,000. Tower Research Capital LLC TRC increased its holdings in shares of Tourmaline Bio by 297.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,646 shares of the company's stock valued at $33,000 after purchasing an additional 1,232 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Tourmaline Bio during the 4th quarter worth about $47,000. Virtus ETF Advisers LLC bought a new position in Tourmaline Bio in the 4th quarter valued at about $64,000. Finally, Invesco Ltd. increased its holdings in shares of Tourmaline Bio by 10.8% during the fourth quarter. Invesco Ltd. now owns 12,155 shares of the company's stock worth $247,000 after purchasing an additional 1,181 shares during the period. 91.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Lifesci Capital began coverage on Tourmaline Bio in a report on Monday, February 24th. They set an "outperform" rating and a $58.00 price target for the company. HC Wainwright reaffirmed a "buy" rating and issued a $50.00 target price on shares of Tourmaline Bio in a report on Monday, May 5th. Wedbush upped their price objective on Tourmaline Bio from $42.00 to $43.00 and gave the company an "outperform" rating in a research note on Friday, March 14th. Finally, Chardan Capital reaffirmed a "buy" rating and set a $70.00 target price on shares of Tourmaline Bio in a report on Monday, May 5th. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $49.33.

Tourmaline Bio Trading Up 3.3%

TRML stock traded up $0.50 during mid-day trading on Monday, reaching $15.60. The company's stock had a trading volume of 24,742 shares, compared to its average volume of 270,334. Tourmaline Bio, Inc. has a 12 month low of $11.56 and a 12 month high of $29.79. The business's 50 day moving average price is $15.49 and its 200 day moving average price is $18.65. The company has a market cap of $400.69 million, a price-to-earnings ratio of -5.53 and a beta of 2.11.

Tourmaline Bio (NASDAQ:TRML - Get Free Report) last issued its earnings results on Friday, May 2nd. The company reported ($0.89) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.91) by $0.02. As a group, equities analysts expect that Tourmaline Bio, Inc. will post -3.02 EPS for the current fiscal year.

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.