AlphaQuest LLC Sells 866 Shares of Tourmaline Bio, Inc. $TRML

AlphaQuest LLC lowered its stake in Tourmaline Bio, Inc. (NASDAQ:TRML) by 23.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,752 shares of the company’s stock after selling 866 shares during the period. AlphaQuest LLC’s holdings in Tourmaline Bio were worth $42,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its holdings in Tourmaline Bio by 297.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,646 shares of the company’s stock valued at $33,000 after acquiring an additional 1,232 shares in the last quarter. Brooklyn Investment Group boosted its holdings in Tourmaline Bio by 148.9% in the first quarter. Brooklyn Investment Group now owns 3,923 shares of the company’s stock valued at $60,000 after acquiring an additional 2,347 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Tourmaline Bio by 4,481.7% in the first quarter. GAMMA Investing LLC now owns 7,514 shares of the company’s stock valued at $114,000 after acquiring an additional 7,350 shares in the last quarter. Hsbc Holdings PLC bought a new stake in shares of Tourmaline Bio during the 1st quarter valued at $158,000. Finally, California State Teachers Retirement System boosted its holdings in shares of Tourmaline Bio by 527.9% during the 4th quarter. California State Teachers Retirement System now owns 10,505 shares of the company’s stock valued at $213,000 after buying an additional 8,832 shares in the last quarter. Institutional investors own 91.89% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on TRML. Chardan Capital restated a “buy” rating and set a $70.00 target price on shares of Tourmaline Bio in a report on Thursday, August 14th. Guggenheim restated a “buy” rating and set a $55.00 target price on shares of Tourmaline Bio in a report on Thursday, August 14th. Seven analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $50.14.

Tourmaline Bio Stock Performance

Shares of NASDAQ:TRML opened at $25.10 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 simple moving average of $20.55 and a two-hundred day simple moving average of $17.39. The firm has a market cap of $644.82 million, a price-to-earnings ratio of -7.32 and a beta of 2.04.

Tourmaline Bio (NASDAQ:TRML) last released its quarterly earnings results on Wednesday, August 13th. The company reported ($0.90) EPS for the quarter, beating the consensus estimate of ($0.94) by $0.04. As a group, research analysts predict 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.