23,357 Shares in Tourmaline Bio, Inc. (NASDAQ:TRML) Purchased by American Century Companies Inc.

American Century Companies Inc. purchased a new position in shares of Tourmaline Bio, Inc. (NASDAQ:TRML - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 23,357 shares of the company's stock, valued at approximately $474,000. American Century Companies Inc. owned 0.09% of Tourmaline Bio at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of TRML. Geode Capital Management LLC lifted its stake in Tourmaline Bio by 6.4% in the third quarter. Geode Capital Management LLC now owns 482,078 shares of the company's stock worth $12,396,000 after acquiring an additional 29,005 shares during the last quarter. State Street Corp raised its stake in Tourmaline Bio by 25.6% in the third quarter. State Street Corp now owns 411,980 shares of the company's stock valued at $10,592,000 after buying an additional 83,949 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Tourmaline Bio by 72.8% during the 3rd quarter. Wellington Management Group LLP now owns 65,741 shares of the company's stock worth $1,690,000 after buying an additional 27,707 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Tourmaline Bio by 3.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 63,571 shares of the company's stock worth $1,634,000 after acquiring an additional 2,147 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in shares of Tourmaline Bio by 2.1% in the 4th quarter. Rhumbline Advisers now owns 35,591 shares of the company's stock valued at $722,000 after acquiring an additional 718 shares during the last quarter. Institutional investors and hedge funds own 91.89% of the company's stock.

Tourmaline Bio Price Performance

Shares of NASDAQ:TRML traded up $0.44 during trading on Thursday, reaching $14.96. The company had a trading volume of 78,994 shares, compared to its average volume of 316,702. Tourmaline Bio, Inc. has a fifty-two week low of $11.56 and a fifty-two week high of $29.79. The stock's fifty day moving average price is $14.29 and its 200 day moving average price is $20.02. The firm has a market capitalization of $384.25 million, a price-to-earnings ratio of -5.30 and a beta of 2.14.

Tourmaline Bio (NASDAQ:TRML - Get Free Report) last announced its quarterly earnings data on Thursday, March 13th. The company reported ($0.86) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.91) by $0.05. The firm had revenue of $0.04 million during the quarter. On average, equities analysts anticipate that Tourmaline Bio, Inc. will post -3.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. HC Wainwright increased their price target on shares of Tourmaline Bio from $49.00 to $50.00 and gave the company a "buy" rating in a research note on Friday, March 14th. Wedbush boosted their price target on shares of Tourmaline Bio from $42.00 to $43.00 and gave the company an "outperform" rating in a research report on Friday, March 14th. Finally, Lifesci Capital initiated coverage on Tourmaline Bio in a research report on Monday, February 24th. They set an "outperform" rating and a $58.00 target price on the stock. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $45.20.

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.