Tourmaline Bio, Inc. $TRML is QVT Financial LP's 7th Largest Position

Key Points

• QVT Financial LP increased its investment in Tourmaline Bio, Inc. (NASDAQ:TRML) by 107.1% during the first quarter, making it the firm's 7th largest position with approximately 2.1% of their portfolio.
• Tourmaline Bio has received a consensus "Buy" rating from analysts, with price targets ranging up to $70.00 from firms like Chardan Capital and Guggenheim.
• The company reported earnings per share of ($0.90) for the last quarter, exceeding analyst expectations, with forecasts suggesting a projected EPS of -3.02 for the current year.

QVT Financial LP raised its holdings in shares of Tourmaline Bio, Inc. (NASDAQ:TRML - Free Report) by 107.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,473,369 shares of the company's stock after buying an additional 762,094 shares during the period. Tourmaline Bio comprises approximately 2.1% of QVT Financial LP's investment portfolio, making the stock its 7th biggest position. QVT Financial LP owned 5.74% of Tourmaline Bio worth $22,410,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tower Research Capital LLC TRC raised its stake in shares of 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 acquiring an additional 1,232 shares in the last quarter. Brooklyn Investment Group grew its holdings in Tourmaline Bio by 148.9% during the 1st quarter. Brooklyn Investment Group now owns 3,923 shares of the company's stock worth $60,000 after acquiring an additional 2,347 shares in the last quarter. GAMMA Investing LLC grew its holdings in Tourmaline Bio by 4,481.7% during the 1st quarter. GAMMA Investing LLC now owns 7,514 shares of the company's stock worth $114,000 after acquiring an additional 7,350 shares in the last quarter. Hsbc Holdings PLC bought a new position in Tourmaline Bio in the first quarter worth approximately $158,000. Finally, California State Teachers Retirement System raised its stake in Tourmaline Bio by 527.9% in the fourth quarter. California State Teachers Retirement System now owns 10,505 shares of the company's stock worth $213,000 after buying an additional 8,832 shares in the last quarter. Institutional investors own 91.89% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on TRML shares. Guggenheim reissued a "buy" rating and issued a $55.00 price objective on shares of Tourmaline Bio in a research note on Thursday, August 14th. HC Wainwright reissued a "buy" rating and issued a $50.00 price objective on shares of Tourmaline Bio in a research note on Monday, May 5th. Finally, Chardan Capital reissued a "buy" rating and issued a $70.00 price objective on shares of Tourmaline Bio in a research note on Thursday, August 14th. Seven investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $50.14.

Tourmaline Bio Trading Up 1.6%

Shares of TRML stock opened at $23.40 on Friday. The business's fifty day simple moving average is $19.96 and its 200-day simple moving average is $17.12. The company has a market cap of $601.15 million, a PE ratio of -6.82 and a beta of 2.04. Tourmaline Bio, Inc. has a 12-month low of $11.56 and a 12-month high of $29.79.

Tourmaline Bio (NASDAQ:TRML - Get Free Report) last issued its quarterly earnings results on Wednesday, August 13th. The company reported ($0.90) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.94) by $0.04. On average, equities analysts forecast that Tourmaline Bio, Inc. will post -3.02 earnings per share for the current 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.

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