Hsbc Holdings PLC Purchases New Stake 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 acquired a new stake in shares of Tourmaline Bio, Inc. (NASDAQ:TRML - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 10,357 shares of the company's stock, valued at approximately $158,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TRML. Tower Research Capital LLC TRC boosted its position in Tourmaline Bio by 297.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,646 shares of the company's stock valued at $33,000 after purchasing an additional 1,232 shares during the period. Brooklyn Investment Group boosted its position in Tourmaline Bio by 148.9% during the 1st quarter. Brooklyn Investment Group now owns 3,923 shares of the company's stock valued at $60,000 after purchasing an additional 2,347 shares during the period. GAMMA Investing LLC boosted its position in Tourmaline Bio by 4,481.7% during the 1st quarter. GAMMA Investing LLC now owns 7,514 shares of the company's stock worth $114,000 after acquiring an additional 7,350 shares during the period. California State Teachers Retirement System boosted its position in Tourmaline Bio by 527.9% during the 4th quarter. California State Teachers Retirement System now owns 10,505 shares of the company's stock worth $213,000 after acquiring an additional 8,832 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Tourmaline Bio by 12.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,378 shares of the company's stock worth $291,000 after acquiring an additional 1,598 shares during the period. Institutional investors and hedge funds own 91.89% of the company's stock.

Analyst Ratings Changes

TRML has been the subject of a number of recent analyst reports. Chardan Capital reiterated a "buy" rating and issued a $70.00 target price on shares of Tourmaline Bio in a research report on Thursday, August 14th. Lifesci Capital reiterated a "market perform" rating and issued a $48.00 price objective on shares of Tourmaline Bio in a report on Tuesday. Jefferies Financial Group reissued 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. Guggenheim lowered Tourmaline Bio from a "buy" rating to a "neutral" rating in a research note on Tuesday. Finally, Wedbush downgraded Tourmaline Bio from an "outperform" rating to a "neutral" rating and set a $48.00 price objective on the stock. in a research note on Tuesday. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $49.19.

Tourmaline Bio Trading Up 57.9%

Shares of Tourmaline Bio stock traded up $17.46 on Tuesday, reaching $47.64. 22,670,139 shares of the company were exchanged, compared to its average volume of 417,538. The stock has a fifty day moving average price of $21.04 and a 200-day moving average price of $17.68. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of -13.89 and a beta of 2.04. Tourmaline Bio, Inc. has a fifty-two week low of $11.56 and a fifty-two week high of $47.69.

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 for the quarter, topping analysts' consensus estimates of ($0.94) by $0.04. On average, equities analysts anticipate that Tourmaline Bio, Inc. will post -3.02 earnings per share for the current fiscal 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.