American Century Companies Inc. Raises Position 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 stake in Tourmaline Bio, Inc. (NASDAQ:TRML - Free Report) by 54.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Tower Research Capital LLC TRC increased its holdings 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 buying an additional 1,232 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Tourmaline Bio by 3.9% in the 1st quarter. SG Americas Securities LLC now owns 36,180 shares of the company's stock worth $550,000 after buying an additional 1,368 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Tourmaline Bio by 12.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,378 shares of the company's stock worth $291,000 after buying an additional 1,598 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Tourmaline Bio by 2.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 65,850 shares of the company's stock worth $1,002,000 after buying an additional 1,791 shares during the last quarter. Finally, Swiss National Bank increased its holdings in shares of Tourmaline Bio by 11.4% in the 1st quarter. Swiss National Bank now owns 22,400 shares of the company's stock worth $341,000 after buying an additional 2,300 shares during the last quarter. Institutional investors own 91.89% of the company's stock.

Analyst Upgrades and Downgrades

TRML has been the topic of several recent research reports. Guggenheim lowered shares of Tourmaline Bio from a "buy" rating to a "neutral" rating in a report on Tuesday. Chardan Capital reaffirmed a "buy" rating and set a $70.00 target price on shares of Tourmaline Bio in a report on Thursday, August 14th. Jefferies Financial Group reaffirmed a "hold" rating and set a $47.50 target price (down previously from $64.00) on shares of Tourmaline Bio in a report on Tuesday. Wedbush lowered shares of Tourmaline Bio from an "outperform" rating to a "neutral" rating and set a $48.00 target price on the stock. in a report on Tuesday. Finally, Lifesci Capital reissued a "market perform" rating and issued a $48.00 price target on shares of Tourmaline Bio in a report on Tuesday. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $49.19.

Tourmaline Bio Trading Up 57.9%

TRML traded up $17.46 during trading on Tuesday, reaching $47.64. The stock had a trading volume of 22,670,139 shares, compared to its average volume of 417,538. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of -13.89 and a beta of 2.04. The stock's 50 day moving average is $21.04 and its two-hundred day moving average is $17.68. Tourmaline Bio, Inc. has a one year low of $11.56 and a one year high of $47.69.

Tourmaline Bio (NASDAQ:TRML - Get Free Report) last released its earnings results on Wednesday, August 13th. The company reported ($0.90) earnings per share for the quarter, topping analysts' consensus estimates of ($0.94) by $0.04. On average, equities research analysts predict that Tourmaline Bio, Inc. will post -3.02 earnings per share for the current 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.