American Century Companies Inc. Raises Stake in Tourmaline Bio, Inc. $TRML

Key Points

• American Century Companies Inc. increased its stake in Tourmaline Bio, Inc. by 54.2%, acquiring an additional 12,661 shares, bringing its total ownership to 36,018 shares valued at $548,000.
• Several institutional investors, including Tower Research Capital and GAMMA Investing LLC, significantly raised their stakes in Tourmaline Bio, reflecting strong interest in the stock.
• Tourmaline Bio's shares saw a recent opening price of $26.74, with analysts issuing a consensus "Buy" rating and a target price of $50.14.

American Century Companies Inc. raised its position in shares of Tourmaline Bio, Inc. (NASDAQ:TRML - Free Report) by 54.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 36,018 shares of the company's stock after buying an additional 12,661 shares during the period. American Century Companies Inc. owned about 0.14% of Tourmaline Bio worth $548,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Tourmaline Bio by 7.7% during the 1st quarter. Vanguard Group Inc. now owns 1,190,810 shares of the company's stock valued at $18,112,000 after buying an additional 84,685 shares during the period. Velan Capital Investment Management LP boosted its position in Tourmaline Bio by 28.0% during the 4th quarter. Velan Capital Investment Management LP now owns 423,795 shares of the company's stock valued at $8,595,000 after buying an additional 92,605 shares during the period. Northern Trust Corp boosted its position in Tourmaline Bio by 7.1% during the 4th quarter. Northern Trust Corp now owns 204,786 shares of the company's stock valued at $4,153,000 after buying an additional 13,603 shares during the period. Woodline Partners LP boosted its position in Tourmaline Bio by 1.6% during the 4th quarter. Woodline Partners LP now owns 161,721 shares of the company's stock valued at $3,280,000 after buying an additional 2,567 shares during the period. Finally, Stempoint Capital LP boosted its position in Tourmaline Bio by 127.7% during the 4th quarter. Stempoint Capital LP now owns 126,400 shares of the company's stock valued at $2,563,000 after buying an additional 70,877 shares during the period. Hedge funds and other institutional investors own 91.89% of the company's stock.

Analyst Upgrades and Downgrades

TRML has been the subject of several analyst reports. Wedbush cut shares of Tourmaline Bio from an "outperform" rating to a "neutral" rating and set a $48.00 price target for the company. in a research report on Tuesday. Truist Financial cut shares of Tourmaline Bio from a "buy" rating to a "hold" rating and dropped their price target for the company from $63.00 to $48.00 in a research report on Wednesday. Chardan Capital cut shares of Tourmaline Bio from a "buy" rating to a "neutral" rating and dropped their price target for the company from $70.00 to $48.00 in a research report on Wednesday. Piper Sandler reaffirmed a "neutral" rating and issued a $48.00 target price (down from $65.00) on shares of Tourmaline Bio in a research report on Thursday. Finally, HC Wainwright cut shares of Tourmaline Bio from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $50.00 to $48.00 in a research report on Wednesday. Two analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $45.85.

Tourmaline Bio Stock Performance

NASDAQ TRML remained flat at $47.60 during trading hours on Thursday. 1,714,490 shares of the company were exchanged, compared to its average volume of 1,479,916. Tourmaline Bio, Inc. has a one year low of $11.56 and a one year high of $47.69. The company has a market cap of $1.22 billion, a price-to-earnings ratio of -13.88 and a beta of 2.04. The business's 50-day simple moving average is $22.92 and its 200-day simple moving average is $18.34.

Tourmaline Bio (NASDAQ:TRML - Get Free Report) last issued its quarterly earnings results on Wednesday, August 13th. The company reported ($0.90) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.94) by $0.04. As a group, research analysts expect that Tourmaline Bio, Inc. will post -3.02 earnings per share for the current fiscal year.

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.