Barclays PLC Has $819,000 Position in Tourmaline Bio, Inc. (NASDAQ:TRML)

Barclays PLC raised its holdings in shares of Tourmaline Bio, Inc. (NASDAQ:TRML) by 283.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,833 shares of the company’s stock after purchasing an additional 23,536 shares during the quarter. Barclays PLC owned 0.12% of Tourmaline Bio worth $819,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TRML. Point72 Asset Management L.P. bought a new position in shares of Tourmaline Bio during the 3rd quarter worth approximately $8,701,000. Blue Owl Capital Holdings LP increased 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 period. State Street Corp grew its position in shares of Tourmaline Bio by 25.6% during the 3rd quarter. State Street Corp now owns 411,980 shares of the company’s stock valued at $10,592,000 after purchasing an additional 83,949 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Tourmaline Bio during the 2nd quarter valued at about $909,000. Finally, Renaissance Technologies LLC increased its holdings in shares of Tourmaline Bio by 184.9% in the 2nd quarter. Renaissance Technologies LLC now owns 100,076 shares of the company’s stock worth $1,287,000 after buying an additional 64,950 shares during the last quarter. 91.89% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on TRML. Guggenheim reiterated a “buy” rating on shares of Tourmaline Bio in a research report on Wednesday, December 11th. Cantor Fitzgerald reiterated an “overweight” rating and set a $25.00 price target 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 report on Friday, December 6th. They set an “outperform” rating and a $50.00 target price on the stock. Finally, HC Wainwright reissued a “buy” rating and set a $49.00 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.com, the stock presently has a consensus rating of “Buy” and an average price target of $54.00.

Tourmaline Bio Stock Performance

Shares of TRML stock opened at $18.24 on Thursday. The stock has a fifty day simple moving average of $23.16 and a two-hundred day simple moving average of $20.84. Tourmaline Bio, Inc. has a 52-week low of $12.12 and a 52-week high of $48.31. The firm has a market capitalization of $467.73 million, a PE ratio of -6.47 and a beta of 2.36.

Tourmaline Bio (NASDAQ:TRML) last announced its earnings results on Thursday, November 7th. The company reported ($0.78) EPS for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.06. On average, sell-side analysts forecast that Tourmaline Bio, Inc. will post -2.99 EPS 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.