JPMorgan Chase & Co. Acquires 2,100 Shares of Tourmaline Bio, Inc. (NASDAQ:TRML)

JPMorgan Chase & Co. raised its holdings in Tourmaline Bio, Inc. (NASDAQ:TRMLFree Report) by 16.5% in the third quarter, Holdings Channel reports. The firm owned 14,804 shares of the company’s stock after purchasing an additional 2,100 shares during the period. JPMorgan Chase & Co.’s holdings in Tourmaline Bio were worth $381,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Point72 Asset Management L.P. purchased a new position in shares of Tourmaline Bio in the 3rd quarter worth about $8,701,000. State Street Corp boosted its stake in Tourmaline Bio by 25.6% in the third quarter. State Street Corp now owns 411,980 shares of the company’s stock valued at $10,592,000 after acquiring an additional 83,949 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Tourmaline Bio by 184.9% in the second 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 last quarter. Acuta Capital Partners LLC increased its stake in shares of Tourmaline Bio by 23.2% during the 3rd quarter. Acuta Capital Partners LLC now owns 332,095 shares of the company’s stock worth $8,538,000 after purchasing an additional 62,481 shares during the last quarter. Finally, Jane Street Group LLC increased its stake in shares of Tourmaline Bio by 211.3% during the 3rd quarter. Jane Street Group LLC now owns 21,705 shares of the company’s stock worth $558,000 after purchasing an additional 41,205 shares during the last quarter. 91.89% of the stock is owned by hedge funds and other institutional investors.

Tourmaline Bio Stock Performance

Shares of NASDAQ TRML opened at $16.33 on Thursday. Tourmaline Bio, Inc. has a fifty-two week low of $12.12 and a fifty-two week high of $48.31. The stock has a market cap of $418.70 million, a PE ratio of -5.79 and a beta of 2.36. The stock has a fifty day moving average of $21.22 and a 200-day moving average of $21.10.

Tourmaline Bio (NASDAQ:TRMLGet Free Report) last posted its earnings results on Thursday, November 7th. The company reported ($0.78) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.84) by $0.06. On average, sell-side analysts predict that Tourmaline Bio, Inc. will post -2.99 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TRML. 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. Guggenheim reiterated a “buy” rating on shares of Tourmaline Bio in a research note on Wednesday, December 11th. Cantor Fitzgerald reissued an “overweight” rating and issued a $25.00 price objective on shares of Tourmaline Bio in a report on Wednesday, December 11th. Finally, BMO Capital Markets initiated coverage on shares of Tourmaline Bio in a report on Friday, December 6th. They set an “outperform” rating and a $50.00 price objective on the stock. Six equities 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 an average target price of $54.00.

Check Out Our Latest Analysis on TRML

Tourmaline Bio Company Profile

(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.

Further Reading

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Institutional Ownership by Quarter for Tourmaline Bio (NASDAQ:TRML)

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