Vanguard Group Inc. Buys 84,685 Shares of Tourmaline Bio, Inc. $TRML

Key Points

• Vanguard Group Inc. increased its ownership of Tourmaline Bio, Inc. by 7.7% in the first quarter, acquiring an additional 84,685 shares, bringing its total holdings to 1,190,810 shares worth approximately $18.1 million.
• Several institutional investors, including Tower Research Capital and GAMMA Investing LLC, significantly boosted their stakes in Tourmaline Bio, indicating strong institutional confidence in the stock.
• Tourmaline Bio's stock recently opened at $23.40 and has experienced a 1.6% increase, with analysts giving it a consensus "buy" rating and a price target averaging $50.14.

Vanguard Group Inc. increased its holdings in shares of Tourmaline Bio, Inc. (NASDAQ:TRML - Free Report) by 7.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,190,810 shares of the company's stock after acquiring an additional 84,685 shares during the quarter. Vanguard Group Inc. owned about 4.64% of Tourmaline Bio worth $18,112,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in TRML. Federated Hermes Inc. increased its holdings in shares of Tourmaline Bio by 13,036.0% during the 1st quarter. Federated Hermes Inc. now owns 121,245 shares of the company's stock worth $1,844,000 after acquiring an additional 120,322 shares during the last quarter. Schonfeld Strategic Advisors LLC increased its holdings in shares of Tourmaline Bio by 50.5% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 298,239 shares of the company's stock worth $6,048,000 after acquiring an additional 100,139 shares during the last quarter. Velan Capital Investment Management LP increased its holdings in shares of Tourmaline Bio by 28.0% during the 4th quarter. Velan Capital Investment Management LP now owns 423,795 shares of the company's stock worth $8,595,000 after acquiring an additional 92,605 shares during the last quarter. Stempoint Capital LP increased its holdings in shares of Tourmaline Bio by 127.7% during the 4th quarter. Stempoint Capital LP now owns 126,400 shares of the company's stock worth $2,563,000 after acquiring an additional 70,877 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of Tourmaline Bio by 87.6% during the 4th quarter. Bank of America Corp DE now owns 70,737 shares of the company's stock worth $1,435,000 after acquiring an additional 33,028 shares during the last quarter. 91.89% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Tourmaline Bio Stock Performance

Shares of NASDAQ:TRML traded up $0.37 during trading on Monday, reaching $23.40. 130,322 shares of the company traded hands, compared to its average volume of 144,607. The company's 50 day moving average is $19.96 and its two-hundred day moving average is $17.15. 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 earnings results on Wednesday, August 13th. The company reported ($0.90) earnings per share for the quarter, beating analysts' consensus estimates of ($0.94) by $0.04. As a group, equities analysts anticipate that Tourmaline Bio, Inc. will post -3.02 EPS for the current fiscal year.

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.