Tourmaline Bio, Inc. (NASDAQ:TRML) Shares Purchased by Barclays PLC

Barclays PLC raised its holdings in Tourmaline Bio, Inc. (NASDAQ:TRML - Free Report) by 84.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 58,566 shares of the company's stock after acquiring an additional 26,733 shares during the quarter. Barclays PLC owned 0.23% of Tourmaline Bio worth $1,187,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in TRML. Legal & General Group Plc lifted its stake in Tourmaline Bio by 197.4% during the fourth quarter. Legal & General Group Plc now owns 15,443 shares of the company's stock valued at $313,000 after purchasing an additional 10,250 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Tourmaline Bio by 10.8% in the fourth quarter. Invesco Ltd. now owns 12,155 shares of the company's stock valued at $247,000 after buying an additional 1,181 shares in the last quarter. Polymer Capital Management HK LTD acquired a new stake in shares of Tourmaline Bio during the 4th quarter valued at $1,610,000. Wells Fargo & Company MN boosted its stake in shares of Tourmaline Bio by 27.8% during the 4th quarter. Wells Fargo & Company MN now owns 13,549 shares of the company's stock worth $275,000 after acquiring an additional 2,951 shares in the last quarter. Finally, Alliancebernstein L.P. grew its holdings in shares of Tourmaline Bio by 39.7% in the 4th quarter. Alliancebernstein L.P. now owns 12,950 shares of the company's stock worth $263,000 after acquiring an additional 3,680 shares during the last quarter. Institutional investors own 91.89% of the company's stock.

Tourmaline Bio Stock Performance

TRML stock opened at $16.30 on Monday. The firm has a 50 day simple moving average of $15.22 and a 200 day simple moving average of $19.10. Tourmaline Bio, Inc. has a 52 week low of $11.56 and a 52 week high of $29.79. The stock has a market cap of $418.67 million, a P/E ratio of -5.78 and a beta of 2.14.

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Wedbush increased their price target on Tourmaline Bio from $42.00 to $43.00 and gave the company an "outperform" rating in a research report on Friday, March 14th. Lifesci Capital initiated coverage on shares of Tourmaline Bio in a research report on Monday, February 24th. They issued an "outperform" rating and a $58.00 target price on the stock. Chardan Capital assumed coverage on shares of Tourmaline Bio in a research report on Wednesday, April 23rd. They issued a "buy" rating and a $70.00 price target for the company. Finally, HC Wainwright lifted their price objective on shares of Tourmaline Bio from $49.00 to $50.00 and gave the stock a "buy" rating in a research report on Friday, March 14th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $49.33.

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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