Wesbanco Bank Inc. Takes Position in Tourmaline Bio, Inc. $TRML

Key Points

• Wesbanco Bank Inc. invested approximately $416,000 in Tourmaline Bio, Inc. by acquiring 26,000 shares, representing about 0.10% ownership of the company.
• Several hedge funds have significantly increased their positions in Tourmaline Bio, with 91.89% of the stock held by institutional investors.
• Analysts have downgraded Tourmaline Bio's stock multiple times, with a current consensus rating of "Hold" and a price target averaging around $45.65.

Wesbanco Bank Inc. purchased a new stake in Tourmaline Bio, Inc. (NASDAQ:TRML - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 26,000 shares of the company's stock, valued at approximately $416,000. Wesbanco Bank Inc. owned about 0.10% of Tourmaline Bio at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Brooklyn Investment Group increased its stake in shares of Tourmaline Bio by 148.9% in 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 increased its stake in shares of Tourmaline Bio by 4,481.7% in the 1st quarter. GAMMA Investing LLC now owns 7,514 shares of the company's stock valued at $114,000 after acquiring an additional 7,350 shares during the last quarter. Hsbc Holdings PLC bought a new stake in shares of Tourmaline Bio in the 1st quarter valued at about $158,000. California State Teachers Retirement System grew its position in shares of Tourmaline Bio by 527.9% in the 4th quarter. California State Teachers Retirement System now owns 10,505 shares of the company's stock valued at $213,000 after purchasing an additional 8,832 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew 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 purchasing an additional 1,598 shares during the period. 91.89% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TRML. Guggenheim reiterated a "neutral" rating and issued a $48.00 price objective (down from $55.00) on shares of Tourmaline Bio in a research report on Wednesday, September 10th. Lifesci Capital lowered Tourmaline Bio from an "outperform" rating to a "hold" rating and set a $48.00 price objective for the company. in a research report on Tuesday, September 9th. HC Wainwright downgraded Tourmaline Bio from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $50.00 to $48.00 in a research report on Wednesday, September 10th. Chardan Capital downgraded Tourmaline Bio from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $70.00 to $48.00 in a research report on Wednesday, September 10th. Finally, Jefferies Financial Group downgraded Tourmaline Bio from a "buy" rating to a "hold" rating and reduced their price target for the stock from $64.00 to $47.50 in a research report on Tuesday, September 9th. One analyst has rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $45.65.

Tourmaline Bio Trading Up 0.1%

TRML stock traded up $0.04 during trading hours on Friday, hitting $47.73. 1,095,020 shares of the stock were exchanged, compared to its average volume of 1,827,530. The firm has a market capitalization of $1.23 billion, a P/E ratio of -13.92 and a beta of 2.04. The company has a 50-day simple moving average of $26.61 and a two-hundred day simple moving average of $19.79. Tourmaline Bio, Inc. has a 12 month low of $11.56 and a 12 month high of $47.77.

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