Nan Fung Group Holdings Ltd increased its position in Tourmaline Bio, Inc. (NASDAQ:TRML - Free Report) by 27.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 187,090 shares of the company's stock after purchasing an additional 40,290 shares during the quarter. Tourmaline Bio makes up 3.2% of Nan Fung Group Holdings Ltd's holdings, making the stock its 13th largest position. Nan Fung Group Holdings Ltd owned about 0.73% of Tourmaline Bio worth $3,794,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of the company. State Street Corp lifted its position in shares of Tourmaline Bio by 25.6% in the third quarter. State Street Corp now owns 411,980 shares of the company's stock valued at $10,592,000 after buying an additional 83,949 shares during the last quarter. Jane Street Group LLC lifted its holdings in Tourmaline Bio by 211.3% during the 3rd quarter. Jane Street Group LLC now owns 21,705 shares of the company's stock valued at $558,000 after purchasing an additional 41,205 shares during the last quarter. Barclays PLC boosted its position in Tourmaline Bio by 283.7% during the third quarter. Barclays PLC now owns 31,833 shares of the company's stock worth $819,000 after purchasing an additional 23,536 shares during the period. Geode Capital Management LLC increased its holdings in shares of Tourmaline Bio by 6.4% in the third quarter. Geode Capital Management LLC now owns 482,078 shares of the company's stock valued at $12,396,000 after purchasing an additional 29,005 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Tourmaline Bio by 16.5% in the third quarter. JPMorgan Chase & Co. now owns 14,804 shares of the company's stock valued at $381,000 after purchasing an additional 2,100 shares during the period. 91.89% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of brokerages recently commented on TRML. Chardan Capital initiated coverage on shares of Tourmaline Bio in a research note on Wednesday. They issued a "buy" rating and a $70.00 price target on the stock. Lifesci Capital assumed coverage on Tourmaline Bio in a research note on Monday, February 24th. They set an "outperform" rating and a $58.00 target price on the stock. HC Wainwright lifted their price target on Tourmaline Bio from $49.00 to $50.00 and gave the stock a "buy" rating in a report on Friday, March 14th. Finally, Wedbush upped their price objective on Tourmaline Bio from $42.00 to $43.00 and gave the company an "outperform" rating in a report on Friday, March 14th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $49.33.
Read Our Latest Stock Report on TRML
Tourmaline Bio Stock Down 1.8 %
Shares of NASDAQ:TRML traded down $0.33 during trading on Thursday, reaching $17.50. 120,593 shares of the company traded hands, compared to its average volume of 275,364. The firm has a market capitalization of $449.36 million, a PE ratio of -6.21 and a beta of 2.14. Tourmaline Bio, Inc. has a 52 week low of $11.56 and a 52 week high of $29.79. The company's 50 day moving average is $14.63 and its two-hundred day moving average is $19.69.
Tourmaline Bio (NASDAQ:TRML - Get Free Report) last posted its quarterly earnings data on Thursday, March 13th. The company reported ($0.86) earnings per share for the quarter, topping the consensus estimate of ($0.91) by $0.05. The firm had revenue of $0.04 million for the quarter. As a group, research analysts anticipate that Tourmaline Bio, Inc. will post -3.02 EPS for the current year.
Tourmaline Bio Profile
(
Free Report)
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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