Corebridge Financial Inc. Trims Holdings in Tourmaline Bio, Inc. (NASDAQ:TRML)

Corebridge Financial Inc. lowered its position in shares of Tourmaline Bio, Inc. (NASDAQ:TRML) by 7.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,477 shares of the company’s stock after selling 866 shares during the quarter. Corebridge Financial Inc.’s holdings in Tourmaline Bio were worth $233,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Rhumbline Advisers lifted its holdings in Tourmaline Bio by 2.1% in the 4th quarter. Rhumbline Advisers now owns 35,591 shares of the company’s stock worth $722,000 after purchasing an additional 718 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Tourmaline Bio by 3.4% during the fourth quarter. SG Americas Securities LLC now owns 34,812 shares of the company’s stock valued at $706,000 after buying an additional 1,140 shares during the last quarter. Brooklyn Investment Group purchased a new position in shares of Tourmaline Bio in the fourth quarter worth $32,000. JPMorgan Chase & Co. boosted its position in shares of Tourmaline Bio by 16.5% during the third quarter. JPMorgan Chase & Co. now owns 14,804 shares of the company’s stock worth $381,000 after acquiring an additional 2,100 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Tourmaline Bio by 3.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 63,571 shares of the company’s stock valued at $1,634,000 after acquiring an additional 2,147 shares in the last quarter. Hedge funds and other institutional investors own 91.89% of the company’s stock.

Tourmaline Bio Trading Up 8.3 %

TRML stock opened at $13.10 on Friday. The stock has a market cap of $336.47 million, a PE ratio of -4.65 and a beta of 2.14. Tourmaline Bio, Inc. has a 12 month low of $11.56 and a 12 month high of $29.79. The company has a 50-day moving average price of $14.32 and a 200 day moving average price of $20.20.

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

Analysts Set New Price Targets

Several analysts have commented on the stock. Wedbush boosted their price target on shares of Tourmaline Bio from $42.00 to $43.00 and gave the stock an “outperform” rating in a research note on Friday, March 14th. Lifesci Capital initiated coverage on Tourmaline Bio in a report on Monday, February 24th. They issued an “outperform” rating and a $58.00 target price on the stock. Finally, HC Wainwright raised their price target on Tourmaline Bio from $49.00 to $50.00 and gave the company a “buy” rating in a report on Friday, March 14th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Tourmaline Bio presently 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.