Rafferty Asset Management LLC bought a new position in shares of Tourmaline Bio, Inc. (NASDAQ:TRML - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 29,844 shares of the company's stock, valued at approximately $605,000. Rafferty Asset Management LLC owned about 0.12% of Tourmaline Bio at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the business. Tower Research Capital LLC TRC lifted its stake in shares of Tourmaline Bio by 297.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,646 shares of the company's stock worth $33,000 after acquiring an additional 1,232 shares during the period. KLP Kapitalforvaltning AS purchased a new position in shares of Tourmaline Bio in the 4th quarter valued at about $47,000. Virtus ETF Advisers LLC purchased a new stake in Tourmaline Bio during the fourth quarter worth about $64,000. Invesco Ltd. increased its holdings in Tourmaline Bio by 10.8% in the fourth quarter. Invesco Ltd. now owns 12,155 shares of the company's stock valued at $247,000 after buying an additional 1,181 shares in the last quarter. Finally, Alliancebernstein L.P. increased its stake in Tourmaline Bio by 39.7% in the 4th quarter. Alliancebernstein L.P. now owns 12,950 shares of the company's stock valued at $263,000 after purchasing an additional 3,680 shares in the last quarter. 91.89% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
TRML has been the subject of several research reports. Lifesci Capital started coverage on Tourmaline Bio in a research note on Monday, February 24th. They set an "outperform" rating and a $58.00 price target for the company. HC Wainwright restated a "buy" rating and issued a $50.00 price target on shares of Tourmaline Bio in a report on Monday, May 5th. Chardan Capital reissued a "buy" rating and set a $70.00 target price on shares of Tourmaline Bio in a research report on Monday, May 5th. Finally, Wedbush lifted 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. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Tourmaline Bio currently has an average rating of "Buy" and a consensus target price of $49.33.
Get Our Latest Analysis on Tourmaline Bio
Tourmaline Bio Trading Up 0.9%
TRML stock traded up $0.14 during trading hours on Wednesday, hitting $15.63. 31,695 shares of the stock traded hands, compared to its average volume of 274,682. Tourmaline Bio, Inc. has a one year low of $11.56 and a one year high of $29.79. The stock has a 50-day simple moving average of $15.38 and a 200 day simple moving average of $17.76. The company has a market cap of $401.33 million, a P/E ratio of -5.54 and a beta of 2.11.
Tourmaline Bio (NASDAQ:TRML - Get Free Report) last released its earnings results on Friday, May 2nd. The company reported ($0.89) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.91) by $0.02. Analysts forecast that Tourmaline Bio, Inc. will post -3.02 earnings per share for the current year.
Tourmaline Bio Company Profile
(
Free Report)
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.
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