23,357 Shares in Tourmaline Bio, Inc. (NASDAQ:TRML) Acquired by American Century Companies Inc.

American Century Companies Inc. acquired a new position in Tourmaline Bio, Inc. (NASDAQ:TRML - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 23,357 shares of the company's stock, valued at approximately $474,000. American Century Companies Inc. owned 0.09% of Tourmaline Bio as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Brooklyn Investment Group acquired a new position in shares of Tourmaline Bio during the fourth quarter worth approximately $32,000. The Manufacturers Life Insurance Company bought a new stake in Tourmaline Bio during the third quarter worth approximately $226,000. JPMorgan Chase & Co. lifted its position in Tourmaline Bio by 16.5% in the third quarter. JPMorgan Chase & Co. now owns 14,804 shares of the company's stock worth $381,000 after purchasing an additional 2,100 shares during the period. Swiss National Bank bought a new position in Tourmaline Bio during the 4th quarter valued at $408,000. Finally, Jane Street Group LLC increased its position in shares of Tourmaline Bio by 211.3% during the 3rd quarter. Jane Street Group LLC now owns 21,705 shares of the company's stock valued at $558,000 after purchasing an additional 41,205 shares during the period. Institutional investors own 91.89% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. HC Wainwright lifted their target price on Tourmaline Bio from $49.00 to $50.00 and gave the stock a "buy" rating in a report on Friday, March 14th. Wedbush raised their target price on shares of Tourmaline Bio from $42.00 to $43.00 and gave the stock an "outperform" rating in a report on Friday, March 14th. Finally, Lifesci Capital assumed coverage on Tourmaline Bio in a report on Monday, February 24th. They issued an "outperform" rating and a $58.00 price target on the stock. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Tourmaline Bio presently has a consensus rating of "Buy" and a consensus target price of $45.20.

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Tourmaline Bio Stock Up 6.0 %

Shares of Tourmaline Bio stock traded up $0.84 during trading on Tuesday, hitting $14.93. The stock had a trading volume of 419,373 shares, compared to its average volume of 279,865. Tourmaline Bio, Inc. has a 1 year low of $11.56 and a 1 year high of $29.79. The stock has a 50 day simple moving average of $14.29 and a 200 day simple moving average of $20.09. The company has a market capitalization of $383.48 million, a PE ratio of -5.29 and a beta of 2.14.

Tourmaline Bio (NASDAQ:TRML - Get Free Report) last posted its quarterly earnings data on Thursday, March 13th. The company reported ($0.86) earnings per share for the quarter, topping the consensus estimate of ($0.91) by $0.05. The firm had revenue of $0.04 million for the quarter. As a group, equities analysts expect that Tourmaline Bio, Inc. will post -3.02 earnings per share for the current fiscal year.

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.