Millennium Management LLC Sells 144,757 Shares of Tourmaline Bio, Inc. (NASDAQ:TRML)

Millennium Management LLC trimmed its stake in shares of Tourmaline Bio, Inc. (NASDAQ:TRML - Free Report) by 28.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 364,658 shares of the company's stock after selling 144,757 shares during the quarter. Millennium Management LLC owned 1.42% of Tourmaline Bio worth $7,395,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Rhumbline Advisers boosted its holdings in Tourmaline Bio by 2.1% during the fourth quarter. Rhumbline Advisers now owns 35,591 shares of the company's stock valued at $722,000 after purchasing an additional 718 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Tourmaline Bio by 3.4% during the fourth quarter. SG Americas Securities LLC now owns 34,812 shares of the company's stock valued at $706,000 after purchasing an additional 1,140 shares in the last quarter. Invesco Ltd. boosted its holdings in Tourmaline Bio by 10.8% during the fourth quarter. Invesco Ltd. now owns 12,155 shares of the company's stock valued at $247,000 after purchasing an additional 1,181 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in Tourmaline Bio by 297.6% during the fourth 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 in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Tourmaline Bio by 12.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,378 shares of the company's stock valued at $291,000 after purchasing an additional 1,598 shares in the last quarter. 91.89% of the stock is owned by institutional investors and hedge funds.

Tourmaline Bio Price Performance

Shares of TRML traded up $0.30 on Friday, hitting $16.81. The company's stock had a trading volume of 297,228 shares, compared to its average volume of 272,547. The company has a 50 day moving average price of $15.33 and a 200 day moving average price of $17.54. Tourmaline Bio, Inc. has a fifty-two week low of $11.56 and a fifty-two week high of $29.79. The company has a market capitalization of $431.76 million, a PE ratio of -5.96 and a beta of 2.11.

Tourmaline Bio (NASDAQ:TRML - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The company reported ($0.89) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.91) by $0.02. On average, equities analysts forecast that Tourmaline Bio, Inc. will post -3.02 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TRML. Chardan Capital reaffirmed a "buy" rating and set a $70.00 price objective on shares of Tourmaline Bio in a report on Monday, May 5th. Lifesci Capital assumed coverage on Tourmaline Bio in a report on Monday, February 24th. They issued an "outperform" rating and a $58.00 target price on the stock. HC Wainwright reissued a "buy" rating and issued a $50.00 target price on shares of Tourmaline Bio in a report on Monday, May 5th. Finally, Wedbush boosted their target price on Tourmaline Bio from $42.00 to $43.00 and gave the stock an "outperform" rating in a report on Friday, March 14th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $49.33.

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.