Wexford Capital LP Makes New $418,000 Investment in Tourmaline Bio, Inc. (NASDAQ:TRML)

Wexford Capital LP purchased a new stake in shares of Tourmaline Bio, Inc. (NASDAQ:TRML - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 20,610 shares of the company's stock, valued at approximately $418,000. Wexford Capital LP owned 0.08% of Tourmaline Bio as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Stempoint Capital LP grew its position in Tourmaline Bio by 127.7% during the fourth quarter. Stempoint Capital LP now owns 126,400 shares of the company's stock valued at $2,563,000 after buying an additional 70,877 shares during the period. Rafferty Asset Management LLC acquired a new stake in shares of Tourmaline Bio in the fourth quarter valued at about $605,000. Nuveen Asset Management LLC grew its position in shares of Tourmaline Bio by 21.5% in the fourth quarter. Nuveen Asset Management LLC now owns 76,245 shares of the company's stock valued at $1,546,000 after purchasing an additional 13,504 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position 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 valued at $291,000 after purchasing an additional 1,598 shares during the period. Finally, Deutsche Bank AG grew its position in shares of Tourmaline Bio by 54.1% in the fourth quarter. Deutsche Bank AG now owns 20,008 shares of the company's stock valued at $406,000 after purchasing an additional 7,025 shares during the period. Institutional investors and hedge funds own 91.89% of the company's stock.

Tourmaline Bio Stock Performance

Shares of NASDAQ:TRML traded up $0.05 during midday trading on Friday, hitting $15.32. The company's stock had a trading volume of 142,435 shares, compared to its average volume of 275,777. The business's 50 day simple moving average is $15.43 and its 200 day simple moving average is $17.94. The company has a market cap of $393.49 million, a P/E ratio of -5.43 and a beta of 2.11. 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 posted its quarterly earnings results on Friday, May 2nd. The company reported ($0.89) earnings per share for the quarter, topping the consensus estimate of ($0.91) by $0.02. On average, sell-side analysts predict that Tourmaline Bio, Inc. will post -3.02 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. 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 report on Friday, March 14th. Lifesci Capital assumed coverage on shares of Tourmaline Bio in a research report on Monday, February 24th. They issued an "outperform" rating and a $58.00 target price on the stock. Chardan Capital reiterated a "buy" rating and issued a $70.00 target price on shares of Tourmaline Bio in a research report on Monday, May 5th. Finally, HC Wainwright reiterated a "buy" rating and issued a $50.00 target price on shares of Tourmaline Bio in a research report on Monday, May 5th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $49.33.

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.