Swiss National Bank Purchases New Shares in Tourmaline Bio, Inc. (NASDAQ:TRML)

Swiss National Bank bought a new stake in shares of Tourmaline Bio, Inc. (NASDAQ:TRML - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 20,100 shares of the company's stock, valued at approximately $408,000. Swiss National Bank owned approximately 0.08% of Tourmaline Bio as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in TRML. Brooklyn Investment Group bought a new stake in shares of Tourmaline Bio in the 4th quarter valued at approximately $32,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Tourmaline Bio in the third quarter worth approximately $226,000. MetLife Investment Management LLC bought a new stake in shares of Tourmaline Bio during the 3rd quarter worth approximately $357,000. JPMorgan Chase & Co. boosted its holdings in Tourmaline Bio by 16.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 14,804 shares of the company's stock valued at $381,000 after acquiring an additional 2,100 shares during the period. Finally, Jane Street Group LLC grew its position in Tourmaline Bio by 211.3% in the 3rd quarter. Jane Street Group LLC now owns 21,705 shares of the company's stock valued at $558,000 after acquiring an additional 41,205 shares during the last quarter. Institutional investors own 91.89% of the company's stock.

Tourmaline Bio Trading Down 4.1 %

Shares of NASDAQ:TRML traded down $0.59 during trading on Wednesday, reaching $13.65. The stock had a trading volume of 196,423 shares, compared to its average volume of 275,199. The firm's 50-day simple moving average is $15.13 and its 200 day simple moving average is $20.85. Tourmaline Bio, Inc. has a one year low of $11.87 and a one year high of $29.79. The company has a market capitalization of $350.60 million, a P/E ratio of -4.84 and a beta of 2.35.

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Tourmaline Bio (NASDAQ:TRML - Get Free Report) last released its quarterly earnings results on Thursday, March 13th. The company reported ($0.86) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.91) by $0.05. The firm had revenue of $0.04 million during the quarter. Equities research analysts forecast that Tourmaline Bio, Inc. will post -3.02 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Wedbush raised their price target on shares of Tourmaline Bio from $42.00 to $43.00 and gave the stock an "outperform" rating in a research note on Friday, March 14th. Guggenheim reissued a "buy" rating on shares of Tourmaline Bio in a research note on Wednesday, December 11th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $25.00 target price on shares of Tourmaline Bio in a report on Wednesday, December 11th. BMO Capital Markets began coverage on Tourmaline Bio in a report on Friday, December 6th. They issued an "outperform" rating and a $50.00 price objective for the company. Finally, Lifesci Capital initiated coverage on shares of Tourmaline Bio in a report on Monday, February 24th. They set an "outperform" rating and a $58.00 target price on the stock. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $45.20.

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.