Wexford Capital LP Purchases New Position in Tourmaline Bio, Inc. (NASDAQ:TRML)

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

A number of other large investors also recently bought and sold shares of the business. Rhumbline Advisers increased its position in shares of Tourmaline Bio by 2.1% during the fourth quarter. Rhumbline Advisers now owns 35,591 shares of the company's stock worth $722,000 after purchasing an additional 718 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Tourmaline Bio by 3.4% during the fourth quarter. SG Americas Securities LLC now owns 34,812 shares of the company's stock worth $706,000 after purchasing an additional 1,140 shares in the last quarter. Invesco Ltd. increased its position in shares of Tourmaline Bio by 10.8% during the fourth quarter. Invesco Ltd. now owns 12,155 shares of the company's stock worth $247,000 after purchasing an additional 1,181 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of Tourmaline Bio by 297.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,646 shares of the company's stock worth $33,000 after purchasing an additional 1,232 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new position in shares of Tourmaline Bio during the fourth quarter worth $32,000. Institutional investors own 91.89% of the company's stock.

Tourmaline Bio Stock Performance

NASDAQ:TRML opened at $16.63 on Tuesday. Tourmaline Bio, Inc. has a one year low of $11.56 and a one year high of $29.79. The firm has a market cap of $427.14 million, a price-to-earnings ratio of -5.90 and a beta of 2.11. The firm's fifty day moving average is $15.63 and its two-hundred day moving average is $18.20.

Tourmaline Bio (NASDAQ:TRML - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The company reported ($0.89) EPS for the quarter, beating the consensus estimate of ($0.91) by $0.02. As a group, equities research analysts predict that Tourmaline Bio, Inc. will post -3.02 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TRML. HC Wainwright reaffirmed a "buy" rating and set a $50.00 price target on shares of Tourmaline Bio in a research report on Monday, May 5th. Chardan Capital reissued a "buy" rating and issued a $70.00 target price on shares of Tourmaline Bio in a research report on Monday, May 5th. Wedbush upped their target price on Tourmaline Bio from $42.00 to $43.00 and gave the company an "outperform" rating in a research report on Friday, March 14th. Finally, Lifesci Capital began coverage on Tourmaline Bio in a research report on Monday, February 24th. They issued an "outperform" rating and a $58.00 target price on the stock. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $49.33.

Tourmaline Bio 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.

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