Barclays PLC Boosts Stake in Tourmaline Bio, Inc. (NASDAQ:TRML)

Barclays PLC increased its position in shares of Tourmaline Bio, Inc. (NASDAQ:TRML) by 283.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,833 shares of the company’s stock after purchasing an additional 23,536 shares during the period. Barclays PLC owned 0.12% of Tourmaline Bio worth $819,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Blue Owl Capital Holdings LP raised its position in shares of Tourmaline Bio by 18.5% during the second quarter. Blue Owl Capital Holdings LP now owns 1,715,401 shares of the company’s stock valued at $22,060,000 after buying an additional 268,000 shares during the last quarter. Jennison Associates LLC grew its stake in Tourmaline Bio by 2.2% during the third quarter. Jennison Associates LLC now owns 1,151,973 shares of the company’s stock valued at $29,617,000 after acquiring an additional 24,282 shares in the last quarter. State Street Corp lifted its position in shares of Tourmaline Bio by 25.6% in the third quarter. State Street Corp now owns 411,980 shares of the company’s stock worth $10,592,000 after buying an additional 83,949 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Tourmaline Bio during the 3rd quarter valued at approximately $8,701,000. Finally, Acuta Capital Partners LLC raised its holdings in shares of Tourmaline Bio by 23.2% during the 3rd quarter. Acuta Capital Partners LLC now owns 332,095 shares of the company’s stock worth $8,538,000 after acquiring an additional 62,481 shares in the last quarter. Institutional investors own 91.89% of the company’s stock.

Tourmaline Bio Stock Up 1.0 %

Shares of NASDAQ TRML opened at $20.28 on Wednesday. Tourmaline Bio, Inc. has a twelve month low of $12.12 and a twelve month high of $48.31. The business has a fifty day simple moving average of $24.66 and a two-hundred day simple moving average of $20.41. The firm has a market cap of $520.04 million, a PE ratio of -7.19 and a beta of 2.32.

Tourmaline Bio (NASDAQ:TRML) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.78) EPS for the quarter, topping the consensus estimate of ($0.84) by $0.06. On average, research analysts expect that Tourmaline Bio, Inc. will post -2.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on TRML shares. HC Wainwright reissued a “buy” rating and issued a $49.00 target price on shares of Tourmaline Bio in a report on Wednesday, December 11th. BMO Capital Markets assumed coverage on Tourmaline Bio in a research report on Friday, December 6th. They set an “outperform” rating and a $50.00 target price on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $25.00 target price on shares of Tourmaline Bio in a report on Wednesday, December 11th. Finally, Guggenheim reiterated a “buy” rating on shares of Tourmaline Bio in a research report on Wednesday, December 11th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Tourmaline Bio currently has an average 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.