Tourmaline Bio, Inc. $TRML Stock Holdings Decreased by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. lessened its holdings in shares of Tourmaline Bio, Inc. (NASDAQ:TRML) by 21.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 82,919 shares of the company’s stock after selling 22,210 shares during the period. Goldman Sachs Group Inc. owned 0.32% of Tourmaline Bio worth $1,261,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Brooklyn Investment Group boosted its stake in Tourmaline Bio by 148.9% during the 1st quarter. Brooklyn Investment Group now owns 3,923 shares of the company’s stock valued at $60,000 after purchasing an additional 2,347 shares during the period. GAMMA Investing LLC boosted its stake in Tourmaline Bio by 4,481.7% during the 1st quarter. GAMMA Investing LLC now owns 7,514 shares of the company’s stock valued at $114,000 after purchasing an additional 7,350 shares during the period. Hsbc Holdings PLC acquired a new position in Tourmaline Bio during the 1st quarter valued at about $158,000. California State Teachers Retirement System boosted its stake in 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 purchasing an additional 8,832 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Tourmaline Bio by 12.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,378 shares of the company’s stock valued at $291,000 after purchasing an additional 1,598 shares during the period. Institutional investors own 91.89% of the company’s stock.

Tourmaline Bio Stock Up 0.1%

Tourmaline Bio stock opened at $47.73 on Monday. The stock has a market capitalization of $1.23 billion, a PE ratio of -13.92 and a beta of 2.04. Tourmaline Bio, Inc. has a twelve month low of $11.56 and a twelve month high of $47.77. The company has a 50 day moving average of $26.61 and a 200-day moving average of $19.87.

Tourmaline Bio (NASDAQ:TRML) last issued its quarterly earnings data on Wednesday, August 13th. The company reported ($0.90) earnings per share for the quarter, beating the consensus estimate of ($0.94) by $0.04. Equities analysts anticipate that Tourmaline Bio, Inc. will post -3.02 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Jefferies Financial Group cut shares of Tourmaline Bio from a “buy” rating to a “hold” rating and decreased their price objective for the company from $64.00 to $47.50 in a report on Tuesday, September 9th. Truist Financial cut shares of Tourmaline Bio from a “buy” rating to a “hold” rating and decreased their price objective for the company from $63.00 to $48.00 in a report on Wednesday, September 10th. Chardan Capital cut shares of Tourmaline Bio from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $70.00 to $48.00 in a report on Wednesday, September 10th. HC Wainwright cut shares of Tourmaline Bio from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $50.00 to $48.00 in a report on Wednesday, September 10th. Finally, Piper Sandler cut shares of Tourmaline Bio from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $65.00 to $48.00 in a report on Thursday, September 11th. One analyst has rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $45.65.

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.