Tourmaline Bio, Inc. (NASDAQ:TRML) Shares Bought by Algert Global LLC

Algert Global LLC increased its holdings in shares of Tourmaline Bio, Inc. (NASDAQ:TRML - Free Report) by 122.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 39,866 shares of the company's stock after acquiring an additional 21,965 shares during the period. Algert Global LLC owned approximately 0.16% of Tourmaline Bio worth $513,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TRML. BNP Paribas Financial Markets acquired a new stake in Tourmaline Bio in the first quarter valued at $31,000. Quest Partners LLC grew 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 valued at $49,000 after purchasing an additional 2,189 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in Tourmaline Bio by 109.5% in the first quarter. China Universal Asset Management Co. Ltd. now owns 4,939 shares of the company's stock valued at $113,000 after purchasing an additional 2,582 shares during the last quarter. Denali Advisors LLC acquired a new stake in Tourmaline Bio in the first quarter valued at $128,000. Finally, Janus Henderson Group PLC acquired a new stake in Tourmaline Bio in the first quarter valued at $266,000. Institutional investors and hedge funds own 91.89% of the company's stock.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued a "buy" rating and issued a $48.00 target price on shares of Tourmaline Bio in a report on Monday, August 12th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $61.80.

Insider Buying and Selling at Tourmaline Bio

In other Tourmaline Bio news, CEO Sandeep Chidambar Kulkarni acquired 5,221 shares of the stock in a transaction on Friday, August 16th. The stock was purchased at an average price of $13.79 per share, for a total transaction of $71,997.59. Following the purchase, the chief executive officer now directly owns 5,221 shares in the company, valued at $71,997.59. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 11.02% of the stock is owned by insiders.

Tourmaline Bio Stock Performance

Shares of TRML stock traded down $0.07 during trading hours on Monday, reaching $26.66. The company had a trading volume of 150,509 shares, compared to its average volume of 315,322. Tourmaline Bio, Inc. has a twelve month low of $9.18 and a twelve month high of $48.31. The company has a market capitalization of $683.56 million, a P/E ratio of -4.11 and a beta of 2.37. The stock's fifty day simple moving average is $18.24 and its 200 day simple moving average is $17.01.

Tourmaline Bio (NASDAQ:TRML - Get Free Report) last posted its earnings results on Thursday, August 8th. The company reported ($0.68) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.72) by $0.04. As a group, equities analysts expect that Tourmaline Bio, Inc. will post -3.12 earnings per share 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.