Velan Capital Investment Management LP raised its position in shares of Tourmaline Bio, Inc. (NASDAQ:TRML - Free Report) by 28.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 423,795 shares of the company's stock after purchasing an additional 92,605 shares during the quarter. Tourmaline Bio accounts for about 7.4% of Velan Capital Investment Management LP's investment portfolio, making the stock its 4th biggest holding. Velan Capital Investment Management LP owned 1.65% of Tourmaline Bio worth $8,595,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of TRML. Wexford Capital LP purchased a new position in shares of Tourmaline Bio in the fourth quarter worth $418,000. Stempoint Capital LP increased its holdings in Tourmaline Bio by 127.7% in the 4th quarter. Stempoint Capital LP now owns 126,400 shares of the company's stock worth $2,563,000 after buying an additional 70,877 shares in the last quarter. Rafferty Asset Management LLC purchased a new position in Tourmaline Bio in the 4th quarter worth about $605,000. Nuveen Asset Management LLC raised its position in Tourmaline Bio by 21.5% in the 4th quarter. Nuveen Asset Management LLC now owns 76,245 shares of the company's stock worth $1,546,000 after buying an additional 13,504 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake 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 valued at $291,000 after acquiring an additional 1,598 shares during the period. 91.89% of the stock is owned by hedge funds and other institutional investors.
Tourmaline Bio Trading Up 6.7%
Shares of TRML opened at $16.56 on Monday. The business's 50 day moving average is $15.62 and its 200 day moving average is $18.27. Tourmaline Bio, Inc. has a 12-month low of $11.56 and a 12-month high of $29.79. The company has a market capitalization of $425.34 million, a PE ratio of -5.87 and a beta of 2.11.
Tourmaline Bio (NASDAQ:TRML - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The company reported ($0.89) EPS for the quarter, beating the consensus estimate of ($0.91) by $0.02. Equities research analysts predict that Tourmaline Bio, Inc. will post -3.02 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on TRML. HC Wainwright reiterated a "buy" rating and issued a $50.00 price target on shares of Tourmaline Bio in a research note on Monday, May 5th. Chardan Capital reaffirmed a "buy" rating and issued a $70.00 target price on shares of Tourmaline Bio in a research report on Monday, May 5th. Lifesci Capital assumed coverage on shares of Tourmaline Bio in a research note on Monday, February 24th. They set an "outperform" rating and a $58.00 target price for the company. Finally, Wedbush raised their price target on Tourmaline Bio from $42.00 to $43.00 and gave the stock an "outperform" rating in a research note on Friday, March 14th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $49.33.
Read Our Latest Report on Tourmaline Bio
About Tourmaline Bio
(
Free Report)
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.
Recommended Stories
Want to see what other hedge funds are holding TRML? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tourmaline Bio, Inc. (NASDAQ:TRML - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Tourmaline Bio, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Tourmaline Bio wasn't on the list.
While Tourmaline Bio currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Today, we are inviting you to take a free peek at our proprietary, exclusive, and up-to-the-minute list of 20 stocks that Wall Street's top analysts hate.
Many of these appear to have good fundamentals and might seem like okay investments, but something is wrong. Analysts smell something seriously rotten about these companies. These are true "Strong Sell" stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
