Nuveen Asset Management LLC Has $1.55 Million Stock Position in Tourmaline Bio, Inc. (NASDAQ:TRML)

Nuveen Asset Management LLC boosted its stake in shares of Tourmaline Bio, Inc. (NASDAQ:TRML) by 21.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 76,245 shares of the company’s stock after buying an additional 13,504 shares during the period. Nuveen Asset Management LLC owned approximately 0.30% of Tourmaline Bio worth $1,546,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TRML. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Tourmaline Bio by 12.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,378 shares of the company’s stock worth $291,000 after buying an additional 1,598 shares during the last quarter. Deutsche Bank AG grew its stake in shares of Tourmaline Bio by 54.1% in the fourth quarter. Deutsche Bank AG now owns 20,008 shares of the company’s stock valued at $406,000 after acquiring an additional 7,025 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Tourmaline Bio by 87.6% in the fourth quarter. Bank of America Corp DE now owns 70,737 shares of the company’s stock valued at $1,435,000 after acquiring an additional 33,028 shares in the last quarter. Acuta Capital Partners LLC grew its stake in shares of Tourmaline Bio by 5.9% in the fourth quarter. Acuta Capital Partners LLC now owns 351,842 shares of the company’s stock valued at $7,135,000 after acquiring an additional 19,747 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC lifted its position in Tourmaline Bio by 50.5% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 298,239 shares of the company’s stock worth $6,048,000 after purchasing an additional 100,139 shares during the period. 91.89% of the stock is currently owned by institutional investors and hedge funds.

Tourmaline Bio Stock Up 7.8%

Shares of TRML opened at $18.44 on Wednesday. Tourmaline Bio, Inc. has a 12-month low of $11.56 and a 12-month high of $29.79. The business’s fifty day moving average is $15.36 and its 200 day moving average is $17.43. The stock has a market cap of $473.63 million, a P/E ratio of -6.54 and a beta of 2.11.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TRML. Lifesci Capital began coverage on shares of Tourmaline Bio in a report on Monday, February 24th. They issued an “outperform” rating and a $58.00 target price for the company. HC Wainwright reiterated a “buy” rating and issued a $50.00 price objective on shares of Tourmaline Bio in a report on Monday, May 5th. Chardan Capital reissued a “buy” rating and set a $70.00 target price on shares of Tourmaline Bio in a research report on Monday, May 5th. Finally, Wedbush increased their target price on shares of Tourmaline Bio from $42.00 to $43.00 and gave the company an “outperform” rating in a research report on Friday, March 14th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $49.33.

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.