Vanguard Group Inc. Raises Holdings in Tourmaline Bio, Inc. (NASDAQ:TRML)

Vanguard Group Inc. lifted its position in shares of Tourmaline Bio, Inc. (NASDAQ:TRML - Free Report) by 4.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,106,125 shares of the company's stock after acquiring an additional 43,652 shares during the quarter. Vanguard Group Inc. owned 4.31% of Tourmaline Bio worth $22,432,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Brooklyn Investment Group purchased a new position in Tourmaline Bio during the fourth quarter worth approximately $32,000. KLP Kapitalforvaltning AS acquired a new position in shares of Tourmaline Bio during the 4th quarter worth approximately $47,000. The Manufacturers Life Insurance Company acquired a new position in shares of Tourmaline Bio during the 3rd quarter worth approximately $226,000. JPMorgan Chase & Co. lifted its position in shares of Tourmaline Bio by 16.5% during 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. Finally, Swiss National Bank acquired a new stake in Tourmaline Bio in the 4th quarter valued at $408,000. 91.89% of the stock is currently owned by institutional investors and hedge funds.

Tourmaline Bio Stock Performance

Shares of NASDAQ:TRML traded up $1.49 during midday trading on Friday, hitting $16.01. The company's stock had a trading volume of 348,308 shares, compared to its average volume of 275,395. Tourmaline Bio, Inc. has a 12-month low of $11.56 and a 12-month high of $29.79. The company has a market cap of $411.22 million, a P/E ratio of -5.68 and a beta of 2.14. The business's 50 day simple moving average is $14.39 and its 200 day simple moving average is $19.79.

Tourmaline Bio (NASDAQ:TRML - Get Free Report) last issued its earnings results on Thursday, March 13th. The company reported ($0.86) earnings per share for the quarter, topping the consensus estimate of ($0.91) by $0.05. The company had revenue of $0.04 million for the quarter. On average, sell-side analysts predict that Tourmaline Bio, Inc. will post -3.02 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TRML. Lifesci Capital began coverage on shares of Tourmaline Bio in a report on Monday, February 24th. They set an "outperform" rating and a $58.00 price objective on the stock. HC Wainwright raised their price target on shares of Tourmaline Bio from $49.00 to $50.00 and gave the company a "buy" rating in a research note on Friday, March 14th. Finally, Wedbush lifted their price objective on Tourmaline Bio from $42.00 to $43.00 and gave the stock an "outperform" rating in a report on Friday, March 14th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Tourmaline Bio currently has a consensus rating of "Buy" and an average price target of $45.20.

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.