Tourmaline Bio, Inc. (NASDAQ:TRML) Stock Position Lifted by Northern Trust Corp

Northern Trust Corp raised its stake in Tourmaline Bio, Inc. (NASDAQ:TRML) by 7.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 204,786 shares of the company’s stock after buying an additional 13,603 shares during the quarter. Northern Trust Corp owned 0.80% of Tourmaline Bio worth $4,153,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TRML. JPMorgan Chase & Co. increased its stake in shares of Tourmaline Bio by 16.5% in the third quarter. JPMorgan Chase & Co. now owns 14,804 shares of the company’s stock worth $381,000 after acquiring an additional 2,100 shares during the last quarter. Barclays PLC grew its stake in Tourmaline Bio by 84.0% in the fourth quarter. Barclays PLC now owns 58,566 shares of the company’s stock valued at $1,187,000 after purchasing an additional 26,733 shares in the last quarter. Vanguard Group Inc. grew its stake in Tourmaline Bio by 4.1% in the fourth 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. purchased a new position in Tourmaline Bio in the fourth quarter valued at about $474,000. Finally, Swiss National Bank purchased a new position in Tourmaline Bio in the fourth quarter valued at about $408,000. Hedge funds and other institutional investors own 91.89% of the company’s stock.

Analyst Ratings Changes

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

Tourmaline Bio Price Performance

Shares of NASDAQ:TRML opened at $15.27 on Friday. Tourmaline Bio, Inc. has a fifty-two week low of $11.56 and a fifty-two week high of $29.79. The business has a 50-day moving average of $15.47 and a two-hundred day moving average of $18.09. The stock has a market capitalization of $392.21 million, a P/E ratio of -5.41 and a beta of 2.11.

Tourmaline Bio (NASDAQ:TRML) last announced its quarterly earnings results on Friday, May 2nd. The company reported ($0.89) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.91) by $0.02. As a group, research analysts expect that Tourmaline Bio, Inc. will post -3.02 EPS for the current fiscal year.

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.