Blue Owl Capital Holdings LP Sells 451,080 Shares of Tourmaline Bio, Inc. (NASDAQ:TRML)

Blue Owl Capital Holdings LP lessened its holdings in Tourmaline Bio, Inc. (NASDAQ:TRML - Free Report) by 29.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,079,321 shares of the company's stock after selling 451,080 shares during the quarter. Tourmaline Bio accounts for about 5.2% of Blue Owl Capital Holdings LP's holdings, making the stock its 7th biggest position. Blue Owl Capital Holdings LP owned approximately 4.21% of Tourmaline Bio worth $21,889,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in Tourmaline Bio by 6.4% in the 3rd quarter. Geode Capital Management LLC now owns 482,078 shares of the company's stock valued at $12,396,000 after purchasing an additional 29,005 shares in the last quarter. State Street Corp boosted its holdings in Tourmaline Bio by 25.6% in the 3rd quarter. State Street Corp now owns 411,980 shares of the company's stock valued at $10,592,000 after purchasing an additional 83,949 shares in the last quarter. Barclays PLC boosted its holdings in Tourmaline Bio by 283.7% in the 3rd quarter. Barclays PLC now owns 31,833 shares of the company's stock valued at $819,000 after purchasing an additional 23,536 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Tourmaline Bio by 16.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 14,804 shares of the company's stock valued at $381,000 after purchasing an additional 2,100 shares in the last quarter. Finally, American Century Companies Inc. purchased a new stake in shares of Tourmaline Bio during the 4th quarter worth approximately $474,000. Hedge funds and other institutional investors own 91.89% of the company's stock.

Tourmaline Bio Stock Down 2.8 %

Shares of TRML traded down $0.47 during trading hours on Tuesday, reaching $16.38. 49,887 shares of the company traded hands, compared to its average volume of 267,557. The stock has a market capitalization of $420.72 million, a PE ratio of -5.84 and a beta of 2.14. Tourmaline Bio, Inc. has a fifty-two week low of $11.56 and a fifty-two week high of $29.79. The stock has a fifty day simple moving average of $14.86 and a 200 day simple moving average of $19.38.

Tourmaline Bio (NASDAQ:TRML - Get Free Report) last issued its quarterly earnings results on Thursday, March 13th. The company reported ($0.86) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.91) by $0.05. The business had revenue of $0.04 million during the quarter. Research analysts predict that Tourmaline Bio, Inc. will post -3.02 EPS for the current fiscal year.

Analysts Set New Price Targets

TRML has been the topic of several research analyst reports. Wedbush boosted their price target on Tourmaline Bio from $42.00 to $43.00 and gave the stock an "outperform" rating in a research note on Friday, March 14th. Lifesci Capital initiated coverage on Tourmaline Bio in a research note on Monday, February 24th. They set an "outperform" rating and a $58.00 price target on the stock. HC Wainwright boosted their price target on Tourmaline Bio from $49.00 to $50.00 and gave the stock a "buy" rating in a research note on Friday, March 14th. Finally, Chardan Capital initiated coverage on Tourmaline Bio in a research note on Wednesday, April 23rd. They set a "buy" rating and a $70.00 price target on the stock. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Tourmaline Bio presently has an average rating of "Buy" and an average target price of $49.33.

Tourmaline Bio Company Profile

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.