Hsbc Holdings PLC Purchases New Shares in Tourmaline Bio, Inc. $TRML

Key Points

• Hsbc Holdings PLC acquired a new stake in Tourmaline Bio, purchasing 10,357 shares valued at approximately $158,000 during the 1st quarter.
• Tourmaline Bio has received a consensus rating of "Buy" from seven research analysts, with an average target price of $50.14.
• The company reported a quarterly EPS of ($0.90), which beat analyst expectations of ($0.94), with forecasts predicting an annual EPS of ($3.02).

Hsbc Holdings PLC purchased a new position in Tourmaline Bio, Inc. (NASDAQ:TRML - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,357 shares of the company's stock, valued at approximately $158,000.

Other hedge funds have also modified their holdings of the company. Tower Research Capital LLC TRC boosted its position in shares of Tourmaline Bio by 297.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,646 shares of the company's stock worth $33,000 after purchasing an additional 1,232 shares during the period. Brooklyn Investment Group boosted its position in shares of Tourmaline Bio by 148.9% in the first quarter. Brooklyn Investment Group now owns 3,923 shares of the company's stock worth $60,000 after purchasing an additional 2,347 shares during the period. GAMMA Investing LLC boosted its position in shares of Tourmaline Bio by 4,481.7% in the first quarter. GAMMA Investing LLC now owns 7,514 shares of the company's stock worth $114,000 after purchasing an additional 7,350 shares during the period. California State Teachers Retirement System boosted its position in shares of Tourmaline Bio by 527.9% in the fourth quarter. California State Teachers Retirement System now owns 10,505 shares of the company's stock worth $213,000 after purchasing an additional 8,832 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Tourmaline Bio by 12.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,378 shares of the company's stock worth $291,000 after purchasing an additional 1,598 shares during the period. 91.89% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on TRML shares. Truist Financial lowered shares of Tourmaline Bio from a "buy" rating to a "hold" rating and dropped their target price for the stock from $63.00 to $48.00 in a research report on Wednesday. Chardan Capital lowered shares of Tourmaline Bio from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $70.00 to $48.00 in a research report on Wednesday. Guggenheim restated a "neutral" rating and set a $48.00 target price (down previously from $55.00) on shares of Tourmaline Bio in a research report on Wednesday. HC Wainwright lowered 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. Finally, Piper Sandler restated a "neutral" rating and set a $48.00 target price (down previously from $65.00) on shares of Tourmaline Bio in a research report on Thursday. Two research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $45.85.

Tourmaline Bio Stock Performance

Tourmaline Bio stock remained flat at $47.60 during mid-day trading on Thursday. 1,714,490 shares of the company were exchanged, compared to its average volume of 1,479,916. The stock has a market capitalization of $1.22 billion, a P/E ratio of -13.88 and a beta of 2.04. The firm's 50-day moving average price is $22.92 and its 200 day moving average price is $18.34. Tourmaline Bio, Inc. has a 52 week low of $11.56 and a 52 week high of $47.69.

Tourmaline Bio (NASDAQ:TRML - Get Free Report) last released 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, sell-side analysts forecast that Tourmaline Bio, Inc. will post -3.02 earnings per share for the current year.

Tourmaline Bio 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.