Two Sigma Investments LP Sells 21,904 Shares of Tourmaline Bio, Inc. (NASDAQ:TRML)

Two Sigma Investments LP cut its stake in shares of Tourmaline Bio, Inc. (NASDAQ:TRML - Free Report) by 50.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,441 shares of the company's stock after selling 21,904 shares during the period. Two Sigma Investments LP owned approximately 0.08% of Tourmaline Bio worth $435,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Stempoint Capital LP increased its stake 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 purchasing an additional 70,877 shares in the last quarter. Rafferty Asset Management LLC acquired a new stake in shares of Tourmaline Bio during the fourth quarter valued at approximately $605,000. Nuveen Asset Management LLC lifted its position in shares of Tourmaline Bio by 21.5% in the 4th quarter. Nuveen Asset Management LLC now owns 76,245 shares of the company's stock valued at $1,546,000 after acquiring an additional 13,504 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Tourmaline Bio by 12.5% in 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 in the last quarter. Finally, Deutsche Bank AG boosted its stake in Tourmaline Bio by 54.1% in the 4th quarter. Deutsche Bank AG now owns 20,008 shares of the company's stock worth $406,000 after purchasing an additional 7,025 shares during the period. 91.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TRML has been the subject of a number of research analyst reports. Chardan Capital restated a "buy" rating and issued a $70.00 target price on shares of Tourmaline Bio in a 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. HC Wainwright reaffirmed a "buy" rating and issued a $50.00 price target on shares of Tourmaline Bio in a research note on Monday, May 5th. Finally, Wedbush lifted their target price 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. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $49.33.

Tourmaline Bio Stock Down 1.1%

TRML stock traded down $0.22 during mid-day trading on Friday, reaching $19.68. 154,595 shares of the stock traded hands, compared to its average volume of 327,089. The firm has a market capitalization of $505.48 million, a PE ratio of -6.98 and a beta of 2.05. The business has a 50-day moving average of $16.08 and a two-hundred day moving average of $17.25. Tourmaline Bio, Inc. has a 52 week low of $11.56 and a 52 week high of $29.79.

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, topping analysts' consensus estimates of ($0.91) by $0.02. On average, equities research analysts anticipate that Tourmaline Bio, Inc. will post -3.02 EPS for the current fiscal 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.