Barclays PLC Has $819,000 Stake in Tourmaline Bio, Inc. (NASDAQ:TRML)

Barclays PLC increased its stake in Tourmaline Bio, Inc. (NASDAQ:TRML - Free Report) by 283.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,833 shares of the company's stock after buying an additional 23,536 shares during the quarter. Barclays PLC owned approximately 0.12% of Tourmaline Bio worth $819,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in TRML. Blue Owl Capital Holdings LP lifted its stake in Tourmaline Bio by 18.5% in 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 during the last quarter. Geode Capital Management LLC raised its holdings in shares of Tourmaline Bio by 6.4% in the 3rd quarter. Geode Capital Management LLC now owns 482,078 shares of the company's stock valued at $12,396,000 after purchasing an additional 29,005 shares during the period. Bank of New York Mellon Corp acquired a new stake in Tourmaline Bio in the 2nd quarter valued at about $909,000. Wellington Management Group LLP increased its holdings in shares of Tourmaline Bio by 72.8% during the 3rd quarter. Wellington Management Group LLP now owns 65,741 shares of the company's stock worth $1,690,000 after acquiring an additional 27,707 shares during the last quarter. Finally, State Street Corp raised its stake in Tourmaline Bio by 25.6% in the 3rd quarter. State Street Corp now owns 411,980 shares of the company's stock valued at $10,592,000 after acquiring an additional 83,949 shares during the period. 91.89% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have commented on TRML. HC Wainwright reaffirmed a "buy" rating and set a $49.00 price objective on shares of Tourmaline Bio in a research report on Wednesday, December 11th. Guggenheim reaffirmed a "buy" rating on shares of Tourmaline Bio in a report on Wednesday, December 11th. BMO Capital Markets began coverage on shares of Tourmaline Bio in a report on Friday, December 6th. They issued an "outperform" rating and a $50.00 price target on the stock. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $25.00 price objective on shares of Tourmaline Bio in a research report on Wednesday, December 11th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $54.00.

Tourmaline Bio Stock Performance

NASDAQ:TRML traded down $0.91 during mid-day trading on Thursday, reaching $17.33. 370,194 shares of the company's stock were exchanged, compared to its average volume of 214,865. The firm has a market capitalization of $444.34 million, a PE ratio of -6.15 and a beta of 2.36. Tourmaline Bio, Inc. has a one year low of $12.12 and a one year high of $48.31. The business's fifty day simple moving average is $22.98 and its two-hundred day simple moving average is $20.82.

Tourmaline Bio (NASDAQ:TRML - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported ($0.78) EPS for the quarter, topping the consensus estimate of ($0.84) by $0.06. As a group, equities research analysts forecast that Tourmaline Bio, Inc. will post -2.99 EPS for the current 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.