Geode Capital Management LLC Purchases 29,005 Shares of Tourmaline Bio, Inc. (NASDAQ:TRML)

Geode Capital Management LLC boosted its holdings in shares of Tourmaline Bio, Inc. (NASDAQ:TRML - Free Report) by 6.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 482,078 shares of the company's stock after acquiring an additional 29,005 shares during the period. Geode Capital Management LLC owned 1.88% of Tourmaline Bio worth $12,396,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in TRML. Blue Owl Capital Holdings LP grew its position in Tourmaline Bio by 18.5% in the 2nd quarter. Blue Owl Capital Holdings LP now owns 1,715,401 shares of the company's stock worth $22,060,000 after purchasing an additional 268,000 shares during the period. Bank of New York Mellon Corp bought a new stake in shares of Tourmaline Bio during the 2nd quarter valued at $909,000. Wellington Management Group LLP raised its holdings in Tourmaline Bio by 72.8% in the 3rd quarter. Wellington Management Group LLP now owns 65,741 shares of the company's stock worth $1,690,000 after purchasing an additional 27,707 shares during the period. Rhumbline Advisers lifted its position in Tourmaline Bio by 28,554.3% during the second quarter. Rhumbline Advisers now owns 33,239 shares of the company's stock valued at $427,000 after purchasing an additional 33,123 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Tourmaline Bio by 3.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 63,571 shares of the company's stock valued at $1,634,000 after purchasing an additional 2,147 shares during the period. Institutional investors own 91.89% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TRML. Guggenheim reaffirmed a "buy" rating 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 note on Friday, December 6th. They set an "outperform" rating and a $50.00 target price on the stock. HC Wainwright reiterated a "buy" rating and issued a $49.00 price target on shares of Tourmaline Bio in a research note on Wednesday, December 11th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued 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 data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $54.00.

Tourmaline Bio Stock Performance

TRML stock traded up $0.20 during trading on Wednesday, hitting $20.28. 112,445 shares of the company's stock traded hands, compared to its average volume of 288,462. Tourmaline Bio, Inc. has a 52 week low of $12.12 and a 52 week high of $48.31. The stock has a market capitalization of $520.04 million, a price-to-earnings ratio of -7.19 and a beta of 2.32. The business has a fifty day simple moving average of $24.50 and a 200 day simple moving average of $20.44.

Tourmaline Bio (NASDAQ:TRML - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.78) EPS for the quarter, beating analysts' consensus estimates of ($0.84) by $0.06. Research analysts forecast that Tourmaline Bio, Inc. will post -2.99 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.