Alyeska Investment Group L.P. Lowers Position in Tourmaline Bio, Inc. (NASDAQ:TRML)

Alyeska Investment Group L.P. decreased its stake in shares of Tourmaline Bio, Inc. (NASDAQ:TRML) by 39.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 115,053 shares of the company’s stock after selling 75,000 shares during the period. Alyeska Investment Group L.P. owned about 0.45% of Tourmaline Bio worth $2,333,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of TRML. Barclays PLC lifted its stake in Tourmaline Bio by 283.7% during the 3rd quarter. Barclays PLC now owns 31,833 shares of the company’s stock valued at $819,000 after acquiring an additional 23,536 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Tourmaline Bio by 16.5% during the third quarter. JPMorgan Chase & Co. now owns 14,804 shares of the company’s stock valued at $381,000 after purchasing an additional 2,100 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Tourmaline Bio by 4.1% during the fourth quarter. Vanguard Group Inc. now owns 1,106,125 shares of the company’s stock worth $22,432,000 after purchasing an additional 43,652 shares during the last quarter. American Century Companies Inc. bought a new stake in Tourmaline Bio in the 4th quarter worth about $474,000. Finally, Swiss National Bank purchased a new stake in Tourmaline Bio in the 4th quarter valued at about $408,000. Hedge funds and other institutional investors own 91.89% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on TRML shares. Lifesci Capital started coverage on Tourmaline Bio in a research note on Monday, February 24th. They issued an “outperform” rating and a $58.00 target price on the stock. HC Wainwright reiterated a “buy” rating and set a $50.00 price target on shares of Tourmaline Bio in a report on Monday. Wedbush upped their price objective on Tourmaline Bio from $42.00 to $43.00 and gave the company an “outperform” rating in a research note on Friday, March 14th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $70.00 target price on shares of Tourmaline Bio in a research report on Monday. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $49.33.

Tourmaline Bio Price Performance

Shares of TRML opened at $14.54 on Wednesday. Tourmaline Bio, Inc. has a 1 year low of $11.56 and a 1 year high of $29.79. The stock’s fifty day moving average price is $15.32 and its two-hundred day moving average price is $18.98. The firm has a market cap of $373.46 million, a PE ratio of -5.16 and a beta of 2.11.

Tourmaline Bio (NASDAQ:TRML) last announced its quarterly earnings data on Friday, May 2nd. The company reported ($0.89) earnings per share for the quarter, topping the consensus estimate of ($0.91) by $0.02. Sell-side analysts anticipate that Tourmaline Bio, Inc. will post -3.02 earnings per share for the current fiscal 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.