Charles Schwab Investment Management Inc. Has $1.63 Million Stock Position in Tourmaline Bio, Inc. (NASDAQ:TRML)

Charles Schwab Investment Management Inc. lifted its position in shares of Tourmaline Bio, Inc. (NASDAQ:TRML) by 3.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 63,571 shares of the company’s stock after acquiring an additional 2,147 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Tourmaline Bio were worth $1,634,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in TRML. Blue Owl Capital Holdings LP lifted its position in shares of Tourmaline Bio by 18.5% during the 2nd quarter. Blue Owl Capital Holdings LP now owns 1,715,401 shares of the company’s stock worth $22,060,000 after buying an additional 268,000 shares during the last quarter. Jennison Associates LLC raised its holdings in Tourmaline Bio by 2.2% during the 3rd quarter. Jennison Associates LLC now owns 1,151,973 shares of the company’s stock worth $29,617,000 after purchasing an additional 24,282 shares during the last quarter. Marshall Wace LLP boosted its position in Tourmaline Bio by 22.3% during the second quarter. Marshall Wace LLP now owns 170,447 shares of the company’s stock valued at $2,192,000 after acquiring an additional 31,029 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Tourmaline Bio by 184.9% during the 2nd quarter. Renaissance Technologies LLC now owns 100,076 shares of the company’s stock valued at $1,287,000 after acquiring an additional 64,950 shares during the period. Finally, HighVista Strategies LLC increased its position in Tourmaline Bio by 57.2% in the 2nd quarter. HighVista Strategies LLC now owns 83,397 shares of the company’s stock valued at $1,072,000 after buying an additional 30,345 shares in the last quarter. Institutional investors and hedge funds own 91.89% of the company’s stock.

Tourmaline Bio Trading Up 1.3 %

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

Tourmaline Bio (NASDAQ:TRML) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.78) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.84) by $0.06. Analysts predict that Tourmaline Bio, Inc. will post -2.99 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on TRML shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $25.00 price objective on shares of Tourmaline Bio in a research note on Wednesday, December 11th. HC Wainwright reissued a “buy” rating and set a $49.00 price objective on shares of Tourmaline Bio in a report on Wednesday, December 11th. BMO Capital Markets started coverage on Tourmaline Bio in a research report on Friday, December 6th. They set an “outperform” rating and a $50.00 price target for the company. Finally, Guggenheim reaffirmed a “buy” rating on shares of Tourmaline Bio in a research note on Wednesday, December 11th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $54.00.

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.