Acuta Capital Partners LLC Boosts Stock Position in Tourmaline Bio, Inc. (NASDAQ:TRML)

Acuta Capital Partners LLC lifted its stake in shares of Tourmaline Bio, Inc. (NASDAQ:TRML - Free Report) by 5.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 351,842 shares of the company's stock after buying an additional 19,747 shares during the period. Tourmaline Bio comprises approximately 7.2% of Acuta Capital Partners LLC's investment portfolio, making the stock its 3rd biggest position. Acuta Capital Partners LLC owned approximately 1.37% of Tourmaline Bio worth $7,135,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Brooklyn Investment Group bought a new position in Tourmaline Bio in the fourth quarter valued at about $32,000. Tower Research Capital LLC TRC boosted its position in Tourmaline Bio by 297.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,646 shares of the company's stock worth $33,000 after buying an additional 1,232 shares during the period. KLP Kapitalforvaltning AS bought a new stake in Tourmaline Bio during the 4th quarter worth approximately $47,000. Virtus ETF Advisers LLC acquired a new position in Tourmaline Bio in the 4th quarter valued at approximately $64,000. Finally, Invesco Ltd. raised its stake in shares of Tourmaline Bio by 10.8% during the fourth quarter. Invesco Ltd. now owns 12,155 shares of the company's stock valued at $247,000 after acquiring an additional 1,181 shares during the last quarter. 91.89% of the stock is currently owned by institutional investors.

Tourmaline Bio Price Performance

Shares of Tourmaline Bio stock traded down $1.55 during trading on Friday, reaching $16.30. 672,662 shares of the company traded hands, compared to its average volume of 270,000. The firm has a market capitalization of $418.67 million, a PE ratio of -5.78 and a beta of 2.14. Tourmaline Bio, Inc. has a 1-year low of $11.56 and a 1-year high of $29.79. The company has a 50 day moving average price of $15.22 and a 200-day moving average price of $19.10.

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

Analyst Ratings Changes

Several brokerages recently issued reports on TRML. HC Wainwright raised 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. Wedbush lifted their price objective on Tourmaline Bio from $42.00 to $43.00 and gave the stock an "outperform" rating in a research note on Friday, March 14th. Lifesci Capital initiated coverage on shares of Tourmaline Bio in a report on Monday, February 24th. They set an "outperform" rating and a $58.00 price target for the company. Finally, Chardan Capital assumed coverage on shares of Tourmaline Bio in a research report on Wednesday, April 23rd. They set a "buy" rating and a $70.00 price objective for the company. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $49.33.

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.