Tourmaline Bio, Inc. (NASDAQ:TRML) Shares Bought by Bank of America Corp DE

Bank of America Corp DE raised its position in shares of Tourmaline Bio, Inc. (NASDAQ:TRML - Free Report) by 87.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 70,737 shares of the company's stock after purchasing an additional 33,028 shares during the period. Bank of America Corp DE owned 0.28% of Tourmaline Bio worth $1,435,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Tourmaline Bio by 4.1% during the fourth 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 in the last quarter. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Tourmaline Bio in the fourth quarter worth $12,168,000. Pictet Asset Management Holding SA lifted its stake in shares of Tourmaline Bio by 69.9% in the fourth quarter. Pictet Asset Management Holding SA now owns 419,883 shares of the company's stock worth $8,515,000 after buying an additional 172,743 shares during the last quarter. Acuta Capital Partners LLC raised its stake in Tourmaline Bio by 5.9% during the 4th quarter. Acuta Capital Partners LLC now owns 351,842 shares of the company's stock valued at $7,135,000 after purchasing an additional 19,747 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC raised its stake in Tourmaline Bio by 50.5% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 298,239 shares of the company's stock valued at $6,048,000 after purchasing an additional 100,139 shares during the last quarter. 91.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TRML has been the subject of several research analyst reports. HC Wainwright reiterated a "buy" rating and set a $50.00 target price on shares of Tourmaline Bio in a research note on Monday, May 5th. Wedbush increased their price objective on shares of Tourmaline Bio from $42.00 to $43.00 and gave the company an "outperform" rating in a research note on Friday, March 14th. Lifesci Capital started coverage on Tourmaline Bio in a research note on Monday, February 24th. They issued an "outperform" rating and a $58.00 price target on the stock. Finally, Chardan Capital reaffirmed a "buy" rating and issued a $70.00 price target on shares of Tourmaline Bio in a research note on Monday, May 5th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $49.33.

Tourmaline Bio Stock Up 0.9%

Shares of NASDAQ:TRML opened at $18.89 on Friday. Tourmaline Bio, Inc. has a 12 month low of $11.56 and a 12 month high of $29.79. The company's 50-day moving average price is $15.48 and its two-hundred day moving average price is $17.40. The firm has a market cap of $485.19 million, a P/E ratio of -6.70 and a beta of 2.11.

Tourmaline Bio (NASDAQ:TRML - Get Free Report) last issued its earnings results on Friday, May 2nd. The company reported ($0.89) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.91) by $0.02. As a group, equities analysts predict 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.

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