Tourmaline Bio, Inc. (NASDAQ:TRML) Stock Holdings Raised by Acuta Capital Partners LLC

Acuta Capital Partners LLC raised its holdings in Tourmaline Bio, Inc. (NASDAQ:TRML) by 23.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 332,095 shares of the company’s stock after buying an additional 62,481 shares during the period. Tourmaline Bio makes up approximately 6.9% of Acuta Capital Partners LLC’s holdings, making the stock its 3rd biggest holding. Acuta Capital Partners LLC’s holdings in Tourmaline Bio were worth $8,538,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in TRML. Quest Partners LLC increased its holdings in Tourmaline Bio by 134.0% during the 2nd quarter. Quest Partners LLC now owns 3,822 shares of the company’s stock worth $49,000 after purchasing an additional 2,189 shares during the period. China Universal Asset Management Co. Ltd. grew its position in shares of Tourmaline Bio by 63.7% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 4,932 shares of the company’s stock worth $127,000 after buying an additional 1,920 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new position in shares of Tourmaline Bio during the third quarter valued at $226,000. Janus Henderson Group PLC bought a new stake in shares of Tourmaline Bio in the first quarter valued at about $266,000. Finally, California State Teachers Retirement System purchased a new stake in Tourmaline Bio in the first quarter worth about $334,000. 91.89% of the stock is owned by hedge funds and other institutional investors.

Tourmaline Bio Stock Performance

Shares of Tourmaline Bio stock opened at $25.66 on Thursday. Tourmaline Bio, Inc. has a one year low of $12.12 and a one year high of $48.31. The company has a market capitalization of $657.92 million, a PE ratio of -9.10 and a beta of 2.36. The company has a 50-day simple moving average of $25.97 and a two-hundred day simple moving average of $18.94.

Tourmaline Bio (NASDAQ:TRML) last posted its 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 predict that Tourmaline Bio, Inc. will post -3.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on TRML. HC Wainwright raised their target price on shares of Tourmaline Bio from $48.00 to $49.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Cantor Fitzgerald raised shares of Tourmaline Bio to a “strong-buy” rating in a report on Tuesday, October 15th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Tourmaline Bio has an average rating of “Buy” and an average target price of $65.00.

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.