79,400 Shares in Tourmaline Bio, Inc. (NASDAQ:TRML) Acquired by Polymer Capital Management HK LTD

Polymer Capital Management HK LTD acquired a new stake in shares of Tourmaline Bio, Inc. (NASDAQ:TRML) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 79,400 shares of the company’s stock, valued at approximately $1,610,000.

A number of other hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its stake in Tourmaline Bio by 3.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 63,571 shares of the company’s stock valued at $1,634,000 after purchasing an additional 2,147 shares during the period. The Manufacturers Life Insurance Company purchased a new position in Tourmaline Bio during the 3rd quarter worth $226,000. MetLife Investment Management LLC purchased a new stake in shares of Tourmaline Bio in the 3rd quarter worth approximately $357,000. Point72 Asset Management L.P. purchased a new position in Tourmaline Bio in the third quarter valued at about $8,701,000. Finally, State Street Corp increased its position in shares of 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 purchasing an additional 83,949 shares in the last quarter. Hedge funds and other institutional investors own 91.89% of the company’s stock.

Tourmaline Bio Stock Down 2.2 %

Shares of NASDAQ:TRML opened at $12.83 on Friday. Tourmaline Bio, Inc. has a fifty-two week low of $11.87 and a fifty-two week high of $29.79. The firm’s 50-day simple moving average is $14.87 and its 200-day simple moving average is $20.70. The company has a market cap of $329.54 million, a price-to-earnings ratio of -4.55 and a beta of 2.35.

Tourmaline Bio (NASDAQ:TRML) last issued its earnings results on Thursday, March 13th. The company reported ($0.86) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.91) by $0.05. The business had revenue of $0.04 million for the quarter. On average, research analysts forecast that Tourmaline Bio, Inc. will post -3.02 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on TRML shares. Cantor Fitzgerald reissued an “overweight” rating and set a $25.00 price target on shares of Tourmaline Bio in a research report on Wednesday, December 11th. Lifesci Capital initiated coverage on shares of Tourmaline Bio in a research report on Monday, February 24th. They set an “outperform” rating and a $58.00 price target on the stock. Guggenheim reaffirmed a “buy” rating on shares of Tourmaline Bio in a research note on Wednesday, December 11th. Wedbush increased their target price on Tourmaline Bio from $42.00 to $43.00 and gave the stock an “outperform” rating in a research note on Friday, March 14th. Finally, HC Wainwright raised their target price on shares of Tourmaline Bio from $49.00 to $50.00 and gave the company a “buy” rating in a report on Friday, March 14th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Tourmaline Bio currently has an average rating of “Buy” and a consensus price target of $45.20.

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.