Schonfeld Strategic Advisors LLC Acquires 100,139 Shares of Tourmaline Bio, Inc. (NASDAQ:TRML)

Schonfeld Strategic Advisors LLC grew its holdings in shares of Tourmaline Bio, Inc. (NASDAQ:TRML - Free Report) by 50.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 298,239 shares of the company's stock after purchasing an additional 100,139 shares during the quarter. Schonfeld Strategic Advisors LLC owned approximately 1.16% of Tourmaline Bio worth $6,048,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Adage Capital Partners GP L.L.C. purchased a new stake in Tourmaline Bio during the fourth quarter worth about $12,168,000. Pictet Asset Management Holding SA increased its stake in shares of Tourmaline Bio by 69.9% during the 4th quarter. Pictet Asset Management Holding SA now owns 419,883 shares of the company's stock worth $8,515,000 after purchasing an additional 172,743 shares during the last quarter. Polymer Capital Management HK LTD bought a new stake in shares of Tourmaline Bio in the 4th quarter worth approximately $1,610,000. 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 purchasing an additional 43,652 shares during the last quarter. Finally, Jane Street Group LLC grew its holdings in Tourmaline Bio by 211.3% during the third 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 period. 91.89% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Tourmaline Bio Stock Up 3.7 %

Shares of TRML opened at $17.85 on Friday. Tourmaline Bio, Inc. has a twelve month low of $11.56 and a twelve month high of $29.79. The stock has a market cap of $458.48 million, a PE ratio of -6.33 and a beta of 2.14. The business's 50-day moving average price is $15.15 and its 200-day moving average price is $19.29.

Tourmaline Bio (NASDAQ:TRML - Get Free Report) last posted its earnings results on Thursday, March 13th. The company reported ($0.86) earnings per share for the quarter, topping analysts' consensus estimates of ($0.91) by $0.05. The firm had revenue of $0.04 million for the quarter. Analysts expect that Tourmaline Bio, Inc. will post -3.02 earnings per share for the current fiscal year.

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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