Rhumbline Advisers Sells 2,558 Shares of Tourmaline Bio, Inc. $TRML

Rhumbline Advisers lowered its stake in shares of Tourmaline Bio, Inc. (NASDAQ:TRML) by 7.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,033 shares of the company’s stock after selling 2,558 shares during the period. Rhumbline Advisers owned 0.13% of Tourmaline Bio worth $502,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. QVT Financial LP lifted its position in Tourmaline Bio by 107.1% during the first quarter. QVT Financial LP now owns 1,473,369 shares of the company’s stock valued at $22,410,000 after purchasing an additional 762,094 shares during the last quarter. Vanguard Group Inc. increased its position in Tourmaline Bio by 7.7% during the first quarter. Vanguard Group Inc. now owns 1,190,810 shares of the company’s stock valued at $18,112,000 after acquiring an additional 84,685 shares during the last quarter. Octagon Capital Advisors LP bought a new position in Tourmaline Bio during the first quarter valued at $13,765,000. Velan Capital Investment Management LP boosted its stake in shares of Tourmaline Bio by 7.5% during the first quarter. Velan Capital Investment Management LP now owns 455,412 shares of the company’s stock valued at $6,927,000 after purchasing an additional 31,617 shares during the period. Finally, Federated Hermes Inc. boosted its stake in shares of Tourmaline Bio by 13,036.0% during the first quarter. Federated Hermes Inc. now owns 121,245 shares of the company’s stock valued at $1,844,000 after purchasing an additional 120,322 shares during the period. Hedge funds and other institutional investors own 91.89% of the company’s stock.

Tourmaline Bio Stock Down 0.0%

TRML opened at $47.73 on Wednesday. Tourmaline Bio, Inc. has a 52-week low of $11.56 and a 52-week high of $47.79. The company has a market cap of $1.23 billion, a P/E ratio of -13.92 and a beta of 2.04. The firm’s 50-day moving average price is $27.77 and its 200-day moving average price is $20.30.

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Guggenheim reissued a “neutral” rating and set a $48.00 target price (down from $55.00) on shares of Tourmaline Bio in a research note on Wednesday, September 10th. HC Wainwright lowered shares of Tourmaline Bio from a “buy” rating to a “neutral” rating and lowered their target price for the company from $50.00 to $48.00 in a research note on Wednesday, September 10th. Piper Sandler lowered shares of Tourmaline Bio from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $65.00 to $48.00 in a research note on Thursday, September 11th. Jefferies Financial Group lowered shares of Tourmaline Bio from a “buy” rating to a “hold” rating and lowered their target price for the company from $64.00 to $47.50 in a research note on Tuesday, September 9th. Finally, Truist Financial lowered shares of Tourmaline Bio from a “buy” rating to a “hold” rating and lowered their target price for the company from $63.00 to $48.00 in a research note on Wednesday, September 10th. One equities research analyst has rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, Tourmaline Bio presently has a consensus rating of “Hold” and an average price target of $45.65.

Tourmaline Bio 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.