State Street Corp Has $10.59 Million Stake in Tourmaline Bio, Inc. (NASDAQ:TRML)

State Street Corp lifted its holdings in Tourmaline Bio, Inc. (NASDAQ:TRML) by 25.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 411,980 shares of the company’s stock after acquiring an additional 83,949 shares during the period. State Street Corp owned approximately 1.61% of Tourmaline Bio worth $10,592,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in TRML. Quest Partners LLC lifted its holdings in shares of Tourmaline Bio by 134.0% in the second quarter. Quest Partners LLC now owns 3,822 shares of the company’s stock valued at $49,000 after purchasing an additional 2,189 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its position in Tourmaline Bio by 63.7% during the third 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 period. The Manufacturers Life Insurance Company purchased a new stake in shares of Tourmaline Bio during the 3rd quarter worth approximately $226,000. MetLife Investment Management LLC purchased a new stake in Tourmaline Bio in the third quarter worth $357,000. Finally, Rhumbline Advisers increased its holdings in Tourmaline Bio by 28,554.3% in the 2nd quarter. Rhumbline Advisers now owns 33,239 shares of the company’s stock worth $427,000 after acquiring an additional 33,123 shares during the last quarter. 91.89% of the stock is currently owned by institutional investors.

Tourmaline Bio Trading Up 2.1 %

Shares of NASDAQ:TRML opened at $21.84 on Friday. The company has a 50 day moving average of $24.97 and a 200 day moving average of $20.29. The stock has a market cap of $560.04 million, a P/E ratio of -7.74 and a beta of 2.32. Tourmaline Bio, Inc. has a 12 month low of $12.12 and a 12 month high of $48.31.

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

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TRML. Cantor Fitzgerald reiterated an “overweight” rating and set a $25.00 target price on shares of Tourmaline Bio in a research report on Wednesday, December 11th. HC Wainwright reaffirmed a “buy” rating and issued a $49.00 price objective on shares of Tourmaline Bio in a report on Wednesday, December 11th. BMO Capital Markets assumed 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, Guggenheim reaffirmed a “buy” rating on shares of Tourmaline Bio in a report on Wednesday, December 11th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $54.00.

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.