Nantahala Capital Management LLC Sells 163,963 Shares of Tourmaline Bio, Inc. (NASDAQ:TRML)

Nantahala Capital Management LLC decreased its position in shares of Tourmaline Bio, Inc. (NASDAQ:TRML - Free Report) by 23.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 536,944 shares of the company's stock after selling 163,963 shares during the period. Nantahala Capital Management LLC owned about 2.09% of Tourmaline Bio worth $10,889,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Northern Trust Corp increased its holdings in Tourmaline Bio by 7.1% during the 4th quarter. Northern Trust Corp now owns 204,786 shares of the company's stock valued at $4,153,000 after purchasing an additional 13,603 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of Tourmaline Bio during the fourth quarter worth $467,000. Virtus ETF Advisers LLC acquired a new stake in shares of Tourmaline Bio in the fourth quarter valued at $64,000. Adage Capital Partners GP L.L.C. bought a new position in shares of Tourmaline Bio in the fourth quarter valued at about $12,168,000. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Tourmaline Bio by 297.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,646 shares of the company's stock valued at $33,000 after buying an additional 1,232 shares during the last quarter. Institutional investors own 91.89% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on TRML shares. Chardan Capital started coverage on shares of Tourmaline Bio in a research report on Wednesday, April 23rd. They set a "buy" rating and a $70.00 target price on the stock. Wedbush increased their price objective on Tourmaline Bio from $42.00 to $43.00 and gave the company an "outperform" rating in a research report on Friday, March 14th. HC Wainwright boosted their target price on Tourmaline Bio from $49.00 to $50.00 and gave the stock a "buy" rating in a research report on Friday, March 14th. Finally, Lifesci Capital began coverage on Tourmaline Bio in a research note on Monday, February 24th. They set an "outperform" rating and a $58.00 price target on the stock. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $49.33.

Tourmaline Bio Price Performance

Shares of TRML stock traded down $1.55 during trading hours on Friday, reaching $16.30. The company had a trading volume of 672,662 shares, compared to its average volume of 269,687. Tourmaline Bio, Inc. has a 1-year low of $11.56 and a 1-year high of $29.79. The firm has a market cap of $418.67 million, a price-to-earnings ratio of -5.78 and a beta of 2.14. The company has a 50 day moving average of $15.22 and a 200 day moving average of $19.22.

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