JPMorgan Chase & Co. Acquires 2,100 Shares of Tourmaline Bio, Inc. (NASDAQ:TRML)

JPMorgan Chase & Co. increased its holdings in shares of Tourmaline Bio, Inc. (NASDAQ:TRML) by 16.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,804 shares of the company’s stock after purchasing an additional 2,100 shares during the period. JPMorgan Chase & Co. owned approximately 0.06% of Tourmaline Bio worth $381,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in TRML. China Universal Asset Management Co. Ltd. increased its stake in shares of Tourmaline Bio by 63.7% in the 3rd 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 in the last quarter. The Manufacturers Life Insurance Company bought a new stake in Tourmaline Bio in the third quarter valued at $226,000. Quest Partners LLC increased its stake in Tourmaline Bio by 145.4% in the third quarter. Quest Partners LLC now owns 9,381 shares of the company’s stock valued at $241,000 after purchasing an additional 5,559 shares in the last quarter. MetLife Investment Management LLC acquired a new position in shares of Tourmaline Bio during the third quarter valued at about $357,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Tourmaline Bio during the 2nd quarter worth about $487,000. 91.89% of the stock is currently owned by institutional investors.

Tourmaline Bio Stock Down 1.0 %

Shares of NASDAQ:TRML opened at $16.33 on Thursday. The business’s 50 day moving average is $21.22 and its 200 day moving average is $21.10. Tourmaline Bio, Inc. has a 12-month low of $12.12 and a 12-month high of $48.31. The stock has a market cap of $418.70 million, a price-to-earnings ratio of -5.79 and a beta of 2.36.

Tourmaline Bio (NASDAQ:TRML) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.78) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.06. As a group, equities research analysts expect that Tourmaline Bio, Inc. will post -2.99 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $25.00 price target 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 report on Wednesday, December 11th. BMO Capital Markets started coverage on Tourmaline Bio in a report on Friday, December 6th. They issued an “outperform” rating and a $50.00 target price on the stock. Finally, HC Wainwright restated a “buy” rating and set a $49.00 price target on shares of Tourmaline Bio in a research note on Wednesday, December 11th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $54.00.

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.