Swiss National Bank Takes Position in Tourmaline Bio, Inc. (NASDAQ:TRML)

Swiss National Bank bought a new position in shares of Tourmaline Bio, Inc. (NASDAQ:TRML) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 20,100 shares of the company’s stock, valued at approximately $408,000. Swiss National Bank owned 0.08% of Tourmaline Bio as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Point72 Asset Management L.P. purchased a new stake in Tourmaline Bio in the 3rd quarter worth approximately $8,701,000. State Street Corp boosted its holdings in Tourmaline Bio by 25.6% during 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. Jane Street Group LLC grew its position in Tourmaline Bio by 211.3% during the third quarter. Jane Street Group LLC now owns 21,705 shares of the company’s stock valued at $558,000 after buying an additional 41,205 shares during the period. Geode Capital Management LLC grew its position in 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 buying an additional 29,005 shares during the period. Finally, Wellington Management Group LLP increased its holdings in Tourmaline Bio by 72.8% in the third quarter. Wellington Management Group LLP now owns 65,741 shares of the company’s stock valued at $1,690,000 after buying an additional 27,707 shares in the last quarter. 91.89% of the stock is owned by institutional investors and hedge funds.

Tourmaline Bio Price Performance

Shares of Tourmaline Bio stock opened at $16.65 on Monday. The business has a 50 day simple moving average of $15.26 and a two-hundred day simple moving average of $20.90. The stock has a market capitalization of $427.66 million, a P/E ratio of -5.90 and a beta of 2.35. Tourmaline Bio, Inc. has a 12 month low of $11.87 and a 12 month high of $29.79.

Tourmaline Bio (NASDAQ:TRML) last posted its quarterly earnings data on Thursday, March 13th. The company reported ($0.86) EPS for the quarter, beating the consensus estimate of ($0.91) by $0.05. The firm had revenue of $0.04 million during the quarter. As a group, research analysts anticipate that Tourmaline Bio, Inc. will post -3.02 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Lifesci Capital began coverage on Tourmaline Bio in a research report on Monday, February 24th. They set an “outperform” rating and a $58.00 target price on the stock. Guggenheim reissued a “buy” rating on shares of Tourmaline Bio in a report on Wednesday, December 11th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $25.00 target price on shares of Tourmaline Bio in a research note on Wednesday, December 11th. HC Wainwright increased their target price on Tourmaline Bio from $49.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, March 14th. Finally, BMO Capital Markets initiated coverage on shares of Tourmaline Bio in a report on Friday, December 6th. They issued an “outperform” rating and a $50.00 price target for the company. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $45.20.

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.