Rhumbline Advisers Has $722,000 Position in Tourmaline Bio, Inc. (NASDAQ:TRML)

Rhumbline Advisers boosted its holdings in Tourmaline Bio, Inc. (NASDAQ:TRML) by 2.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,591 shares of the company’s stock after buying an additional 718 shares during the quarter. Rhumbline Advisers owned approximately 0.14% of Tourmaline Bio worth $722,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in shares of Tourmaline Bio by 6.4% during the third quarter. Geode Capital Management LLC now owns 482,078 shares of the company’s stock valued at $12,396,000 after acquiring an additional 29,005 shares during the last quarter. Wellington Management Group LLP raised its position in Tourmaline Bio by 72.8% during the 3rd quarter. Wellington Management Group LLP now owns 65,741 shares of the company’s stock worth $1,690,000 after purchasing an additional 27,707 shares during the last quarter. State Street Corp lifted its holdings in Tourmaline Bio by 25.6% during the 3rd 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 during the period. Charles Schwab Investment Management Inc. grew its position in shares of Tourmaline Bio by 3.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 63,571 shares of the company’s stock valued at $1,634,000 after buying an additional 2,147 shares during the last quarter. Finally, Barclays PLC grew its position in shares of Tourmaline Bio by 283.7% in the 3rd quarter. Barclays PLC now owns 31,833 shares of the company’s stock valued at $819,000 after buying an additional 23,536 shares during the last quarter. 91.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TRML. Lifesci Capital initiated coverage on Tourmaline Bio in a research report on Monday, February 24th. They set an “outperform” rating and a $58.00 price objective for the company. Wedbush began coverage on shares of Tourmaline Bio in a report on Thursday. They set an “outperform” rating and a $42.00 price target for the company. BMO Capital Markets assumed coverage on shares of Tourmaline Bio in a research note on Friday, December 6th. They issued an “outperform” rating and a $50.00 price objective on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $25.00 target price on shares of Tourmaline Bio in a research note on Wednesday, December 11th. Finally, HC Wainwright restated a “buy” rating and issued a $49.00 target price on shares of Tourmaline Bio in a report on Wednesday, December 11th. Eight 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 a consensus price target of $52.86.

Tourmaline Bio Stock Performance

Shares of TRML opened at $14.38 on Friday. The firm has a market capitalization of $368.75 million, a P/E ratio of -5.10 and a beta of 2.35. The stock has a 50 day moving average price of $16.23 and a two-hundred day moving average price of $20.78. Tourmaline Bio, Inc. has a 52 week low of $11.87 and a 52 week high of $48.31.

Tourmaline Bio 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.