Jane Street Group LLC Cuts Stock Position in Tourmaline Bio, Inc. (NASDAQ:TRML)

Jane Street Group LLC lessened its stake in shares of Tourmaline Bio, Inc. (NASDAQ:TRML) by 17.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,887 shares of the company’s stock after selling 3,818 shares during the quarter. Jane Street Group LLC owned about 0.07% of Tourmaline Bio worth $363,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of TRML. Barclays PLC raised its position in Tourmaline Bio by 84.0% in the fourth quarter. Barclays PLC now owns 58,566 shares of the company’s stock worth $1,187,000 after acquiring an additional 26,733 shares in the last quarter. Vanguard Group Inc. raised its position in Tourmaline Bio by 4.1% in the fourth quarter. Vanguard Group Inc. now owns 1,106,125 shares of the company’s stock worth $22,432,000 after acquiring an additional 43,652 shares in the last quarter. American Century Companies Inc. purchased a new position in Tourmaline Bio in the fourth quarter worth $474,000. Swiss National Bank purchased a new position in Tourmaline Bio in the fourth quarter worth $408,000. Finally, KLP Kapitalforvaltning AS purchased a new position in Tourmaline Bio in the fourth quarter worth $47,000. Hedge funds and other institutional investors own 91.89% of the company’s stock.

Wall Street Analysts Forecast Growth

TRML has been the subject of several research analyst reports. Chardan Capital reiterated a “buy” rating and issued a $70.00 price objective on shares of Tourmaline Bio in a research report on Monday, May 5th. Wedbush increased their price objective on Tourmaline Bio from $42.00 to $43.00 and gave the stock an “outperform” rating in a research report on Friday, March 14th. Lifesci Capital assumed coverage on Tourmaline Bio in a research report on Monday, February 24th. They issued an “outperform” rating and a $58.00 price objective for the company. Finally, HC Wainwright reissued a “buy” rating and issued a $50.00 target price on shares of Tourmaline Bio in a report on Monday, May 5th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $49.33.

Tourmaline Bio Stock Up 1.8%

Shares of TRML stock opened at $16.81 on Monday. Tourmaline Bio, Inc. has a fifty-two week low of $11.56 and a fifty-two week high of $29.79. The stock has a market cap of $431.76 million, a P/E ratio of -5.96 and a beta of 2.11. The business has a fifty day simple moving average of $15.33 and a 200-day simple moving average of $17.48.

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, beating analysts’ consensus estimates of ($0.91) by $0.02. On average, sell-side analysts anticipate that Tourmaline Bio, Inc. will post -3.02 earnings per share for the current 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.