Tourmaline Bio, Inc. (NASDAQ:TRML) Shares Bought by Acuta Capital Partners LLC

Acuta Capital Partners LLC increased its position in shares of Tourmaline Bio, Inc. (NASDAQ:TRML - Free Report) by 5.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 351,842 shares of the company's stock after buying an additional 19,747 shares during the period. Tourmaline Bio accounts for approximately 7.2% of Acuta Capital Partners LLC's holdings, making the stock its 3rd biggest position. Acuta Capital Partners LLC owned about 1.37% of Tourmaline Bio worth $7,135,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of TRML. Barclays PLC boosted its holdings in Tourmaline Bio by 283.7% during the third quarter. Barclays PLC now owns 31,833 shares of the company's stock valued at $819,000 after acquiring an additional 23,536 shares during the period. JPMorgan Chase & Co. grew its holdings in Tourmaline Bio by 16.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 14,804 shares of the company's stock valued at $381,000 after buying an additional 2,100 shares during the last quarter. Vanguard Group Inc. increased its position in Tourmaline Bio by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 1,106,125 shares of the company's stock worth $22,432,000 after buying an additional 43,652 shares during the period. American Century Companies Inc. bought a new stake in shares of Tourmaline Bio in the fourth quarter valued at approximately $474,000. Finally, Swiss National Bank acquired a new stake in shares of Tourmaline Bio in the fourth quarter worth $408,000. 91.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TRML. HC Wainwright reissued a "buy" rating and issued a $50.00 price target on shares of Tourmaline Bio in a report on Monday. Wedbush increased their target price on shares of Tourmaline Bio from $42.00 to $43.00 and gave the company an "outperform" rating in a research note on Friday, March 14th. Chardan Capital restated a "buy" rating and set a $70.00 price target on shares of Tourmaline Bio in a research note on Monday. Finally, Lifesci Capital assumed coverage on Tourmaline Bio in a research report on Monday, February 24th. They issued an "outperform" rating and a $58.00 price objective for the company. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $49.33.

Tourmaline Bio Stock Performance

Shares of TRML stock traded up $0.11 during trading hours on Wednesday, hitting $14.65. The company had a trading volume of 53,874 shares, compared to its average volume of 269,369. The firm has a market capitalization of $376.29 million, a price-to-earnings ratio of -5.20 and a beta of 2.11. Tourmaline Bio, Inc. has a 12 month low of $11.56 and a 12 month high of $29.79. The firm's fifty day moving average is $15.32 and its 200 day moving average is $18.98.

Tourmaline Bio (NASDAQ:TRML - Get Free Report) last announced its earnings results on Friday, May 2nd. The company reported ($0.89) EPS for the quarter, topping the consensus estimate of ($0.91) by $0.02. On average, sell-side analysts expect that Tourmaline Bio, Inc. will post -3.02 EPS 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.