Tourmaline Bio, Inc. (NASDAQ:TRML) Holdings Lifted by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lifted its stake in shares of Tourmaline Bio, Inc. (NASDAQ:TRML) by 3.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 63,571 shares of the company’s stock after acquiring an additional 2,147 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.25% of Tourmaline Bio worth $1,634,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of TRML. Quest Partners LLC raised its position in Tourmaline Bio by 134.0% during the second quarter. Quest Partners LLC now owns 3,822 shares of the company’s stock valued at $49,000 after buying an additional 2,189 shares during the period. China Universal Asset Management Co. Ltd. grew its stake in 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 buying an additional 1,920 shares during the last quarter. California State Teachers Retirement System acquired a new stake in Tourmaline Bio in the 1st quarter valued at approximately $334,000. Rhumbline Advisers increased its holdings in shares of Tourmaline Bio by 28,554.3% during the 2nd quarter. Rhumbline Advisers now owns 33,239 shares of the company’s stock worth $427,000 after purchasing an additional 33,123 shares during the period. Finally, SG Americas Securities LLC bought a new stake in shares of Tourmaline Bio during the second quarter valued at approximately $433,000. 91.89% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TRML has been the subject of a number of recent research reports. 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 shares of Tourmaline Bio in a research report on Friday, December 6th. They set an “outperform” rating and a $50.00 target price for the company. Guggenheim reissued a “buy” rating on shares of Tourmaline Bio in a research report on Wednesday, December 11th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $25.00 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, Tourmaline Bio has an average rating of “Buy” and a consensus price target of $54.00.

Tourmaline Bio Stock Up 1.3 %

Shares of Tourmaline Bio stock opened at $22.10 on Tuesday. The stock has a market cap of $566.71 million, a P/E ratio of -7.84 and a beta of 2.32. The business’s 50 day moving average is $25.93 and its 200-day moving average is $19.97. Tourmaline Bio, Inc. has a 12-month low of $12.12 and a 12-month high of $48.31.

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

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.