Wellington Management Group LLP Has $1.69 Million Stock Position in Tourmaline Bio, Inc. (NASDAQ:TRML)

Wellington Management Group LLP increased its position in shares of Tourmaline Bio, Inc. (NASDAQ:TRML - Free Report) by 72.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 65,741 shares of the company's stock after purchasing an additional 27,707 shares during the period. Wellington Management Group LLP owned about 0.26% of Tourmaline Bio worth $1,690,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Quest Partners LLC increased its holdings in Tourmaline Bio by 134.0% in the 2nd quarter. Quest Partners LLC now owns 3,822 shares of the company's stock valued at $49,000 after buying an additional 2,189 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in Tourmaline Bio by 63.7% in the third quarter. China Universal Asset Management Co. Ltd. now owns 4,932 shares of the company's stock valued at $127,000 after acquiring an additional 1,920 shares during the period. The Manufacturers Life Insurance Company acquired a new position in Tourmaline Bio in the third quarter worth about $226,000. MetLife Investment Management LLC acquired a new position in Tourmaline Bio in the third quarter worth about $357,000. Finally, Rhumbline Advisers lifted its stake in Tourmaline Bio by 28,554.3% during the second quarter. Rhumbline Advisers now owns 33,239 shares of the company's stock worth $427,000 after purchasing an additional 33,123 shares during the period. 91.89% of the stock is currently owned by institutional investors and hedge funds.

Tourmaline Bio Stock Performance

Tourmaline Bio stock traded up $0.47 on Thursday, reaching $20.34. The company's stock had a trading volume of 189,197 shares, compared to its average volume of 289,883. Tourmaline Bio, Inc. has a twelve month low of $12.12 and a twelve month high of $48.31. The company has a market cap of $521.58 million, a price-to-earnings ratio of -7.21 and a beta of 2.32. The business's fifty day moving average price is $25.51 and its 200 day moving average price is $20.03.

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

Analyst Upgrades and Downgrades

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

About Tourmaline Bio

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.