Goldman Sachs Group Inc. Lowers Position in Tourmaline Bio, Inc. $TRML

Key Points

• Goldman Sachs Group Inc. decreased its holdings in Tourmaline Bio by 21.1% in Q1, owning 82,919 shares valued at approximately $1.26 million after selling 22,210 shares.
• Other institutional investors have also modified their stakes significantly, including Brooklyn Investment Group, which increased its stake by 148.9%, and GAMMA Investing LLC, boosting its stake by 4,481.7%.
• Analysts have downgraded Tourmaline Bio's stock, with a majority now rating it a Hold and an average target price set at $45.65, significantly lower than previous projections.

Goldman Sachs Group Inc. cut its position in Tourmaline Bio, Inc. (NASDAQ:TRML - Free Report) by 21.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 82,919 shares of the company's stock after selling 22,210 shares during the period. Goldman Sachs Group Inc. owned approximately 0.32% of Tourmaline Bio worth $1,261,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Brooklyn Investment Group boosted its holdings in shares of Tourmaline Bio by 148.9% during the 1st quarter. Brooklyn Investment Group now owns 3,923 shares of the company's stock valued at $60,000 after acquiring an additional 2,347 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Tourmaline Bio by 4,481.7% in the first quarter. GAMMA Investing LLC now owns 7,514 shares of the company's stock worth $114,000 after buying an additional 7,350 shares during the last quarter. Hsbc Holdings PLC purchased a new position in shares of Tourmaline Bio in the first quarter worth approximately $158,000. California State Teachers Retirement System boosted its holdings in shares of 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 during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Tourmaline Bio by 12.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,378 shares of the company's stock worth $291,000 after buying an additional 1,598 shares during the last quarter. 91.89% of the stock is currently owned by hedge funds and other institutional investors.

Tourmaline Bio Stock Up 0.0%

NASDAQ TRML traded up $0.02 on Monday, hitting $47.75. 633,791 shares of the stock were exchanged, compared to its average volume of 1,875,989. The stock has a fifty day moving average price of $26.61 and a two-hundred day moving average price of $19.87. Tourmaline Bio, Inc. has a 52-week low of $11.56 and a 52-week high of $47.79.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on TRML shares. Chardan Capital downgraded shares of Tourmaline Bio from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $70.00 to $48.00 in a report on Wednesday, September 10th. HC Wainwright cut shares of Tourmaline Bio from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $50.00 to $48.00 in a research note on Wednesday, September 10th. Wedbush cut shares of Tourmaline Bio from an "outperform" rating to a "neutral" rating and set a $48.00 target price on the stock. in a research note on Tuesday, September 9th. Guggenheim restated a "neutral" rating and set a $48.00 target price (down previously from $55.00) on shares of Tourmaline Bio in a research note on Wednesday, September 10th. Finally, Jefferies Financial Group cut shares of Tourmaline Bio from a "buy" rating to a "hold" rating and decreased their target price for the stock from $64.00 to $47.50 in a research note on Tuesday, September 9th. One equities research analyst has rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, Tourmaline Bio currently has a consensus rating of "Hold" and a consensus price target of $45.65.

About Tourmaline Bio

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.