Jump Financial LLC Purchases Shares of 20,893 Tourmaline Bio, Inc. $TRML

Key Points

• Jump Financial LLC has acquired a new position in Tourmaline Bio, purchasing 20,893 shares valued at approximately $318,000, and now owns about 0.08% of the company.
• Other institutional investors have also recently increased their stakes in Tourmaline Bio, resulting in over 91% of the company's stock being owned by such investors.
• Analysts maintain a positive outlook on Tourmaline Bio, with a consensus rating of "Buy" and an average price target of $50.14 per share.

Jump Financial LLC purchased a new stake in shares of Tourmaline Bio, Inc. (NASDAQ:TRML - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 20,893 shares of the company's stock, valued at approximately $318,000. Jump Financial LLC owned 0.08% of Tourmaline Bio as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Wells Fargo & Company MN increased its stake in Tourmaline Bio by 27.8% in the fourth quarter. Wells Fargo & Company MN now owns 13,549 shares of the company's stock worth $275,000 after purchasing an additional 2,951 shares during the period. Tower Research Capital LLC TRC grew its holdings 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 last quarter. Northern Trust Corp increased its stake in Tourmaline Bio by 7.1% in the 4th quarter. Northern Trust Corp now owns 204,786 shares of the company's stock worth $4,153,000 after buying an additional 13,603 shares during the period. Bank of America Corp DE lifted its holdings in Tourmaline Bio by 87.6% during the 4th quarter. Bank of America Corp DE now owns 70,737 shares of the company's stock valued at $1,435,000 after buying an additional 33,028 shares in the last quarter. Finally, Deutsche Bank AG boosted its position in Tourmaline Bio by 54.1% in the 4th quarter. Deutsche Bank AG now owns 20,008 shares of the company's stock valued at $406,000 after buying an additional 7,025 shares during the period. Hedge funds and other institutional investors own 91.89% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on the company. Chardan Capital reaffirmed a "buy" rating and set a $70.00 target price on shares of Tourmaline Bio in a research report on Thursday, August 14th. Guggenheim restated a "buy" rating and set a $55.00 price target on shares of Tourmaline Bio in a research note on Thursday, August 14th. Seven research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Tourmaline Bio has an average rating of "Buy" and an average target price of $50.14.

Tourmaline Bio Price Performance

Tourmaline Bio stock traded down $0.01 during midday trading on Thursday, reaching $25.10. The company's stock had a trading volume of 341,324 shares, compared to its average volume of 141,538. Tourmaline Bio, Inc. has a 52-week low of $11.56 and a 52-week high of $29.79. The stock has a market capitalization of $644.82 million, a P/E ratio of -7.32 and a beta of 2.04. The stock's 50-day simple moving average is $20.55 and its 200-day simple moving average is $17.39.

Tourmaline Bio (NASDAQ:TRML - Get Free Report) last announced its quarterly earnings data on Wednesday, August 13th. The company reported ($0.90) EPS for the quarter, beating the consensus estimate of ($0.94) by $0.04. As a group, equities 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.