Marshall Wace LLP Trims Stock Holdings in Tourmaline Bio, Inc. (NASDAQ:TRML)

Marshall Wace LLP lessened its stake in Tourmaline Bio, Inc. (NASDAQ:TRML - Free Report) by 16.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 116,091 shares of the company's stock after selling 22,103 shares during the quarter. Marshall Wace LLP owned 0.45% of Tourmaline Bio worth $2,354,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brooklyn Investment Group purchased a new stake in shares of Tourmaline Bio in the 4th quarter valued at approximately $32,000. KLP Kapitalforvaltning AS acquired a new stake in Tourmaline Bio during the fourth quarter worth approximately $47,000. Invesco Ltd. raised its stake in Tourmaline Bio by 10.8% during the 4th quarter. Invesco Ltd. now owns 12,155 shares of the company's stock worth $247,000 after acquiring an additional 1,181 shares in the last quarter. Alliancebernstein L.P. lifted its position in Tourmaline Bio by 39.7% in the fourth quarter. Alliancebernstein L.P. now owns 12,950 shares of the company's stock valued at $263,000 after acquiring an additional 3,680 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its stake in Tourmaline Bio by 27.8% in the fourth quarter. Wells Fargo & Company MN now owns 13,549 shares of the company's stock valued at $275,000 after acquiring an additional 2,951 shares in the last quarter. 91.89% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TRML has been the subject of a number of research analyst reports. 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. Chardan Capital initiated coverage on Tourmaline Bio in a research note on Wednesday, April 23rd. They set a "buy" rating and a $70.00 target price for the company. HC Wainwright increased their price objective 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 initiated coverage on shares of Tourmaline Bio in a research report on Monday, February 24th. They set an "outperform" rating and a $58.00 target price on the stock. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $49.33.

Tourmaline Bio Stock Performance

TRML stock traded down $1.60 during midday trading on Friday, hitting $16.26. 175,774 shares of the stock were exchanged, compared to its average volume of 268,632. The stock's 50-day moving average price is $15.15 and its 200-day moving average price is $19.29. The stock has a market cap of $417.51 million, a price-to-earnings ratio of -5.76 and a beta of 2.14. Tourmaline Bio, Inc. has a fifty-two week low of $11.56 and a fifty-two week high of $29.79.

Tourmaline Bio (NASDAQ:TRML - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The company reported ($0.89) EPS for the quarter, topping the consensus estimate of ($0.91) by $0.02. Research analysts anticipate that Tourmaline Bio, Inc. will post -3.02 EPS for the current year.

About Tourmaline Bio

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.