Rafferty Asset Management LLC Invests $605,000 in Tourmaline Bio, Inc. (NASDAQ:TRML)

Rafferty Asset Management LLC bought a new position in Tourmaline Bio, Inc. (NASDAQ:TRML - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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 large investors have also added to or reduced their stakes in TRML. JPMorgan Chase & Co. raised 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 worth $381,000 after purchasing an additional 2,100 shares during the period. SG Americas Securities LLC raised its position in shares of Tourmaline Bio by 3.4% during the fourth quarter. SG Americas Securities LLC now owns 34,812 shares of the company's stock valued at $706,000 after buying an additional 1,140 shares during the last quarter. Rhumbline Advisers lifted its stake in Tourmaline Bio by 2.1% in the 4th quarter. Rhumbline Advisers now owns 35,591 shares of the company's stock worth $722,000 after purchasing an additional 718 shares in the last quarter. Swiss National Bank purchased a new stake in shares of Tourmaline Bio in the fourth quarter worth about $408,000. Finally, American Century Companies Inc. bought a new position in shares of Tourmaline Bio during the 4th quarter valued at approximately $474,000. Institutional investors own 91.89% of the company's stock.

Analyst Upgrades and Downgrades

TRML has been the subject of a number of recent research reports. Lifesci Capital initiated coverage on Tourmaline Bio in a report on Monday, February 24th. They issued an "outperform" rating and a $58.00 target price for the company. Chardan Capital reiterated a "buy" rating and set a $70.00 price objective on shares of Tourmaline Bio in a research report on Monday, May 5th. Wedbush increased their target price on shares of Tourmaline Bio from $42.00 to $43.00 and gave the company an "outperform" rating in a research note on Friday, March 14th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $50.00 price target on shares of Tourmaline Bio in a research note on Monday, May 5th. Seven 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 a consensus target price of $49.33.

Tourmaline Bio Stock Performance

Tourmaline Bio stock traded up $0.05 during mid-day trading on Friday, hitting $15.32. The company's stock had a trading volume of 142,435 shares, compared to its average volume of 275,777. The company has a 50 day moving average of $15.43 and a 200-day moving average of $17.94. Tourmaline Bio, Inc. has a one year low of $11.56 and a one year high of $29.79. The stock has a market cap of $393.49 million, a PE ratio of -5.43 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, beating analysts' consensus estimates of ($0.91) by $0.02. On average, equities research analysts forecast 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.