Tourmaline Bio, Inc. (NASDAQ:TRML) Stake Boosted by Barclays PLC

Barclays PLC grew its holdings in Tourmaline Bio, Inc. (NASDAQ:TRML - Free Report) by 84.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 58,566 shares of the company's stock after acquiring an additional 26,733 shares during the period. Barclays PLC owned about 0.23% of Tourmaline Bio worth $1,187,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. JPMorgan Chase & Co. lifted its stake 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 in the last quarter. Vanguard Group Inc. raised 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 valued at $22,432,000 after purchasing an additional 43,652 shares in the last quarter. American Century Companies Inc. acquired a new position in Tourmaline Bio during the 4th quarter worth approximately $474,000. Swiss National Bank acquired a new stake in Tourmaline Bio in the fourth quarter valued at $408,000. Finally, KLP Kapitalforvaltning AS acquired a new position in Tourmaline Bio in the fourth quarter valued at approximately $47,000. Hedge funds and other institutional investors own 91.89% of the company's stock.

Wall Street Analyst Weigh In

TRML has been the topic of a number of research reports. HC Wainwright restated a "buy" rating and set a $50.00 price target on shares of Tourmaline Bio in a research note on Monday, May 5th. Chardan Capital restated a "buy" rating and set a $70.00 target price on shares of Tourmaline Bio in a research report on Monday, May 5th. Wedbush boosted their target price on Tourmaline Bio from $42.00 to $43.00 and gave the stock an "outperform" rating in a report on Friday, March 14th. Finally, Lifesci Capital initiated coverage on Tourmaline Bio in a research report on Monday, February 24th. They set an "outperform" rating and a $58.00 price target on the stock. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $49.33.

Tourmaline Bio Trading Down 4.1 %

TRML traded down $0.65 on Friday, hitting $15.09. 287,554 shares of the company's stock were exchanged, compared to its average volume of 271,307. The firm has a market cap of $387.59 million, a PE ratio of -5.35 and a beta of 2.11. The stock has a fifty day moving average of $15.49 and a two-hundred day moving average of $18.71. Tourmaline Bio, Inc. has a twelve month low of $11.56 and a twelve month high of $29.79.

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

Tourmaline Bio Company 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.