Tourmaline Bio, Inc. (NASDAQ:TRML) is Acuta Capital Partners LLC's 3rd Largest Position

Acuta Capital Partners LLC increased its holdings in shares of Tourmaline Bio, Inc. (NASDAQ:TRML - Free Report) by 23.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 332,095 shares of the company's stock after acquiring an additional 62,481 shares during the period. Tourmaline Bio comprises 6.9% of Acuta Capital Partners LLC's portfolio, making the stock its 3rd biggest position. Acuta Capital Partners LLC owned about 1.30% of Tourmaline Bio worth $8,538,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of TRML. Blue Owl Capital Holdings LP raised its stake in shares of Tourmaline Bio by 18.5% during the second quarter. Blue Owl Capital Holdings LP now owns 1,715,401 shares of the company's stock valued at $22,060,000 after acquiring an additional 268,000 shares in the last quarter. Vanguard Group Inc. increased its holdings in Tourmaline Bio by 19.7% during the 1st quarter. Vanguard Group Inc. now owns 914,519 shares of the company's stock worth $20,942,000 after purchasing an additional 150,767 shares during the period. Bank of New York Mellon Corp bought a new stake in Tourmaline Bio during the 2nd quarter valued at $909,000. Renaissance Technologies LLC lifted its holdings in shares of Tourmaline Bio by 184.9% in the 2nd quarter. Renaissance Technologies LLC now owns 100,076 shares of the company's stock worth $1,287,000 after buying an additional 64,950 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Tourmaline Bio during the 2nd quarter worth $487,000. Hedge funds and other institutional investors own 91.89% of the company's stock.

Analysts Set New Price Targets

TRML has been the subject of several recent research reports. HC Wainwright lifted their price objective on Tourmaline Bio from $48.00 to $49.00 and gave the company a "buy" rating in a report on Monday, November 11th. Cantor Fitzgerald upgraded shares of Tourmaline Bio to a "strong-buy" rating in a report on Tuesday, October 15th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Tourmaline Bio currently has an average rating of "Buy" and a consensus target price of $65.00.

Tourmaline Bio Stock Performance

TRML traded up $1.84 during trading on Thursday, hitting $25.66. The stock had a trading volume of 200,635 shares, compared to its average volume of 298,629. The stock has a 50 day simple moving average of $26.06 and a two-hundred day simple moving average of $18.99. The company has a market capitalization of $657.92 million, a PE ratio of -9.10 and a beta of 2.36. Tourmaline Bio, Inc. has a twelve month low of $12.12 and a twelve month high of $48.31.

Tourmaline Bio (NASDAQ:TRML - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported ($0.78) earnings per share for the quarter, topping the consensus estimate of ($0.84) by $0.06. On average, equities research analysts anticipate that Tourmaline Bio, Inc. will post -3.08 EPS 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.