Y Intercept Hong Kong Ltd Takes Position in Tourmaline Bio, Inc. $TRML

by · The Cerbat Gem

Y Intercept Hong Kong Ltd purchased a new stake in shares of Tourmaline Bio, Inc. (NASDAQ:TRML – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 22,056 shares of the company’s stock, valued at approximately $353,000. Y Intercept Hong Kong Ltd owned 0.09% of Tourmaline Bio at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brooklyn Investment Group boosted its stake in Tourmaline Bio by 148.9% in the first quarter. Brooklyn Investment Group now owns 3,923 shares of the company’s stock valued at $60,000 after acquiring an additional 2,347 shares in the last quarter. Hsbc Holdings PLC purchased a new position in shares of Tourmaline Bio during the 1st quarter valued at about $158,000. Invesco Ltd. lifted its holdings in Tourmaline Bio by 63.9% in the first quarter. Invesco Ltd. now owns 19,920 shares of the company’s stock valued at $303,000 after acquiring an additional 7,765 shares during the period. Jump Financial LLC acquired a new stake in shares of Tourmaline Bio during the 1st quarter worth approximately $318,000. Finally, Swiss National Bank boosted its stake in shares of Tourmaline Bio by 11.4% during the 1st quarter. Swiss National Bank now owns 22,400 shares of the company’s stock worth $341,000 after acquiring an additional 2,300 shares in the last quarter. Institutional investors own 91.89% of the company’s stock.

Tourmaline Bio Price Performance

NASDAQ TRML opened at $47.98 on Friday. The business’s 50-day simple moving average is $45.19 and its 200-day simple moving average is $27.79. The firm has a market capitalization of $1.23 billion, a P/E ratio of -13.99 and a beta of 2.27. Tourmaline Bio, Inc. has a 1-year low of $11.56 and a 1-year high of $48.27.

Tourmaline Bio (NASDAQ:TRML – Get Free Report) last released its quarterly earnings results on Wednesday, August 13th. The company reported ($0.90) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.94) by $0.04. On average, equities research analysts expect that Tourmaline Bio, Inc. will post -3.02 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently commented on TRML. Guggenheim reiterated a “neutral” rating and set a $48.00 price target (down from $55.00) on shares of Tourmaline Bio in a research report on Wednesday, September 10th. Truist Financial lowered shares of Tourmaline Bio from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $63.00 to $48.00 in a report on Wednesday, September 10th. Lifesci Capital cut shares of Tourmaline Bio from an “outperform” rating to a “hold” rating and set a $48.00 price target for the company. in a research report on Tuesday, September 9th. Cantor Fitzgerald reissued an “overweight” rating on shares of Tourmaline Bio in a research report on Wednesday, October 29th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Tourmaline Bio in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $45.65.

Check Out Our Latest Research Report on TRML

About Tourmaline Bio

(Free Report)

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.

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