Tourmaline Bio, Inc. (NASDAQ:TRML) Stake Reduced by Fmr LLC

FMR LLC trimmed its position in Tourmaline Bio, Inc. (NASDAQ:TRML - Free Report) by 93.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,063 shares of the company's stock after selling 221,665 shares during the quarter. FMR LLC owned approximately 0.06% of Tourmaline Bio worth $387,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in TRML. Quest Partners LLC lifted its holdings in Tourmaline Bio by 134.0% in the second quarter. Quest Partners LLC now owns 3,822 shares of the company's stock worth $49,000 after acquiring an additional 2,189 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Tourmaline Bio by 63.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 4,932 shares of the company's stock worth $127,000 after purchasing an additional 1,920 shares during the last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of Tourmaline Bio in the 3rd quarter worth approximately $226,000. Rhumbline Advisers boosted its position in Tourmaline Bio by 28,554.3% during the 2nd quarter. Rhumbline Advisers now owns 33,239 shares of the company's stock valued at $427,000 after purchasing an additional 33,123 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new position in Tourmaline Bio during the 2nd quarter worth $487,000. 91.89% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on TRML shares. HC Wainwright reiterated a "buy" rating and issued a $49.00 target price on shares of Tourmaline Bio in a research note on Wednesday, December 11th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $25.00 price objective on shares of Tourmaline Bio in a research report on Wednesday, December 11th. BMO Capital Markets initiated coverage on shares of Tourmaline Bio in a research report on Friday, December 6th. They issued an "outperform" rating and a $50.00 target price for the company. Finally, Guggenheim reaffirmed a "buy" rating on shares of Tourmaline Bio in a report on Wednesday, December 11th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Tourmaline Bio currently has a consensus rating of "Buy" and a consensus target price of $54.00.

Tourmaline Bio Trading Up 1.5 %

TRML traded up $0.31 on Friday, reaching $20.65. The company had a trading volume of 848,735 shares, compared to its average volume of 292,155. The company has a market capitalization of $529.53 million, a P/E ratio of -7.32 and a beta of 2.32. The company has a fifty day moving average of $25.42 and a 200-day moving average of $20.08. Tourmaline Bio, Inc. has a one year low of $12.12 and a one year high of $48.31.

Tourmaline Bio (NASDAQ:TRML - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.78) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.84) by $0.06. Research analysts predict that Tourmaline Bio, Inc. will post -2.99 EPS for the current year.

Tourmaline Bio Company 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.