Federated Hermes Inc. Has $1.84 Million Holdings in Tourmaline Bio, Inc. (NASDAQ:TRML)

Key Points

• Federated Hermes Inc. significantly increased its stake in Tourmaline Bio, raising its holdings by 13,036.0% to own 121,245 shares valued at approximately $1.84 million.
• Tourmaline Bio has received multiple buy ratings from analysts, with a consensus price target of $49.33 based on recent research reports.
• The company's stock price recently traded at $21.94, showing a range between a fifty-two week low of $11.56 and a high of $29.79, alongside a market capitalization of $563.42 million.

Federated Hermes Inc. boosted its position in shares of Tourmaline Bio, Inc. (NASDAQ:TRML - Free Report) by 13,036.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 121,245 shares of the company's stock after purchasing an additional 120,322 shares during the period. Federated Hermes Inc. owned 0.47% of Tourmaline Bio worth $1,844,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. purchased a new position in shares of Tourmaline Bio during the fourth quarter valued at $12,168,000. Schonfeld Strategic Advisors LLC lifted its stake in Tourmaline Bio by 50.5% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 298,239 shares of the company's stock worth $6,048,000 after acquiring an additional 100,139 shares in the last quarter. Velan Capital Investment Management LP boosted its position in Tourmaline Bio by 28.0% during the 4th quarter. Velan Capital Investment Management LP now owns 423,795 shares of the company's stock worth $8,595,000 after acquiring an additional 92,605 shares during the period. Stempoint Capital LP grew its stake in Tourmaline Bio by 127.7% during the 4th quarter. Stempoint Capital LP now owns 126,400 shares of the company's stock valued at $2,563,000 after acquiring an additional 70,877 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Tourmaline Bio by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 1,106,125 shares of the company's stock valued at $22,432,000 after purchasing an additional 43,652 shares during the period. 91.89% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on the stock. HC Wainwright restated a "buy" rating and set a $50.00 price target on shares of Tourmaline Bio in a report on Monday, May 5th. Chardan Capital reiterated a "buy" rating and issued a $70.00 target price on shares of Tourmaline Bio in a research report on Monday, May 5th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $49.33.

Tourmaline Bio Stock Down 2.9%

TRML stock traded down $0.61 during trading hours on Friday, hitting $20.72. The company's stock had a trading volume of 178,434 shares, compared to its average volume of 199,916. The company has a market capitalization of $532.09 million, a PE ratio of -6.45 and a beta of 2.04. The stock has a 50 day moving average price of $18.71 and a two-hundred day moving average price of $16.40. Tourmaline Bio, Inc. has a 12 month low of $11.56 and a 12 month high of $29.79.

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.