Y Intercept Hong Kong Ltd Acquires New Shares in Tourmaline Bio, Inc. $TRML

Y Intercept Hong Kong Ltd bought a new position in Tourmaline Bio, Inc. (NASDAQ:TRML) during the 2nd quarter, Holdings Channel reports. The fund bought 22,056 shares of the company’s stock, valued at approximately $353,000.

Several other institutional investors and hedge funds also recently made changes to their positions in TRML. Charles Schwab Investment Management Inc. boosted its holdings in Tourmaline Bio by 2.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 65,850 shares of the company’s stock valued at $1,002,000 after acquiring an additional 1,791 shares during the last quarter. Swiss National Bank lifted its position in Tourmaline Bio by 11.4% during the 1st quarter. Swiss National Bank now owns 22,400 shares of the company’s stock valued at $341,000 after purchasing an additional 2,300 shares during the period. Brooklyn Investment Group boosted its stake in shares of Tourmaline Bio by 148.9% in the 1st quarter. Brooklyn Investment Group now owns 3,923 shares of the company’s stock valued at $60,000 after purchasing an additional 2,347 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Tourmaline Bio by 9.0% during the 1st quarter. Wellington Management Group LLP now owns 74,739 shares of the company’s stock worth $1,137,000 after buying an additional 6,140 shares during the period. Finally, Invesco Ltd. raised its stake in shares of Tourmaline Bio by 63.9% during the first quarter. Invesco Ltd. now owns 19,920 shares of the company’s stock worth $303,000 after buying an additional 7,765 shares during the last quarter. Institutional investors own 91.89% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on TRML. Chardan Capital cut shares of Tourmaline Bio from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $70.00 to $48.00 in a research note on Wednesday, September 10th. Wedbush lowered Tourmaline Bio from an “outperform” rating to a “neutral” rating and set a $48.00 price target on the stock. in a research report on Tuesday, September 9th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Tourmaline Bio in a report on Wednesday, October 29th. Truist Financial cut Tourmaline Bio from a “buy” rating to a “hold” rating and reduced their target price for the stock from $63.00 to $48.00 in a report on Wednesday, September 10th. Finally, Jefferies Financial Group cut Tourmaline Bio from a “buy” rating to a “hold” rating and lowered their price target for the company from $64.00 to $47.50 in a research note on Tuesday, September 9th. One investment analyst has rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Tourmaline Bio currently has a consensus rating of “Hold” and a consensus target price of $45.65.

Tourmaline Bio Price Performance

NASDAQ:TRML opened at $47.98 on Friday. The business’s 50-day simple moving average is $45.19 and its 200-day simple moving average is $27.79. Tourmaline Bio, Inc. has a fifty-two week low of $11.56 and a fifty-two week high of $48.27. The stock has a market capitalization of $1.23 billion, a PE ratio of -13.99 and a beta of 2.27.

Tourmaline Bio (NASDAQ:TRML) last announced its earnings results on Wednesday, August 13th. The company reported ($0.90) EPS for the quarter, topping the consensus estimate of ($0.94) by $0.04. On average, research analysts expect that Tourmaline Bio, Inc. will post -3.02 earnings per share for the current 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.