Pictet Asset Management Holding SA Has $8.52 Million Stake in Tourmaline Bio, Inc. (NASDAQ:TRML)

Pictet Asset Management Holding SA raised its holdings in shares of Tourmaline Bio, Inc. (NASDAQ:TRML - Free Report) by 69.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 419,883 shares of the company's stock after acquiring an additional 172,743 shares during the period. Pictet Asset Management Holding SA owned approximately 1.64% of Tourmaline Bio worth $8,515,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Tourmaline Bio by 4.1% in the fourth quarter. Vanguard Group Inc. now owns 1,106,125 shares of the company's stock valued at $22,432,000 after buying an additional 43,652 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in shares of Tourmaline Bio in the 4th quarter valued at approximately $47,000. American Century Companies Inc. bought a new position in Tourmaline Bio during the 4th quarter worth approximately $474,000. Swiss National Bank bought a new position in Tourmaline Bio during the 4th quarter worth approximately $408,000. Finally, Rhumbline Advisers grew its holdings in Tourmaline Bio by 2.1% during the fourth quarter. Rhumbline Advisers now owns 35,591 shares of the company's stock valued at $722,000 after purchasing an additional 718 shares during the period. 91.89% of the stock is currently owned by institutional investors.

Tourmaline Bio Stock Performance

Tourmaline Bio stock traded down $0.21 during midday trading on Monday, reaching $12.62. The stock had a trading volume of 336,077 shares, compared to its average volume of 278,076. Tourmaline Bio, Inc. has a 1-year low of $11.87 and a 1-year high of $29.79. The stock has a market capitalization of $324.14 million, a P/E ratio of -4.48 and a beta of 2.14. The firm's fifty day simple moving average is $14.78 and its 200-day simple moving average is $20.63.

Tourmaline Bio (NASDAQ:TRML - Get Free Report) last issued its quarterly earnings results on Thursday, March 13th. The company reported ($0.86) EPS for the quarter, topping the consensus estimate of ($0.91) by $0.05. The business had revenue of $0.04 million for the quarter. On average, sell-side analysts anticipate that Tourmaline Bio, Inc. will post -3.02 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TRML has been the topic of a number of recent analyst reports. Guggenheim reissued a "buy" rating on shares of Tourmaline Bio in a research report on Wednesday, December 11th. Cantor Fitzgerald reissued an "overweight" rating and issued a $25.00 target price on shares of Tourmaline Bio in a research note on Wednesday, December 11th. Wedbush raised their price target on Tourmaline Bio from $42.00 to $43.00 and gave the stock an "outperform" rating in a research report on Friday, March 14th. HC Wainwright boosted their price objective on Tourmaline Bio from $49.00 to $50.00 and gave the company a "buy" rating in a research report on Friday, March 14th. Finally, Lifesci Capital began coverage on shares of Tourmaline Bio in a report on Monday, February 24th. They set an "outperform" rating and a $58.00 target price on the stock. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $45.20.

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.