Prudential Financial Inc. Sells 5,800 Shares of Tourmaline Bio, Inc. (NASDAQ:TRML)

Prudential Financial Inc. trimmed its position in shares of Tourmaline Bio, Inc. (NASDAQ:TRML) by 7.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 72,335 shares of the company’s stock after selling 5,800 shares during the quarter. Prudential Financial Inc.’s holdings in Tourmaline Bio were worth $1,467,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Tourmaline Bio by 4.1% during the fourth quarter. Vanguard Group Inc. now owns 1,106,125 shares of the company’s stock worth $22,432,000 after acquiring an additional 43,652 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in Tourmaline Bio in the 4th quarter worth $47,000. American Century Companies Inc. bought a new stake in Tourmaline Bio in the fourth quarter worth $474,000. Swiss National Bank bought a new stake in Tourmaline Bio in the fourth quarter worth $408,000. Finally, Rhumbline Advisers boosted its position in Tourmaline Bio by 2.1% during the fourth quarter. Rhumbline Advisers now owns 35,591 shares of the company’s stock valued at $722,000 after buying an additional 718 shares during the period. Hedge funds and other institutional investors own 91.89% of the company’s stock.

Tourmaline Bio Stock Down 2.2 %

Shares of TRML stock opened at $12.83 on Friday. The firm has a market capitalization of $329.54 million, a price-to-earnings ratio of -4.55 and a beta of 2.35. The stock has a fifty day moving average of $14.87 and a 200 day moving average of $20.70. Tourmaline Bio, Inc. has a 52 week low of $11.87 and a 52 week high of $29.79.

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Wedbush lifted their price objective on Tourmaline Bio from $42.00 to $43.00 and gave the stock an “outperform” rating in a report on Friday, March 14th. Lifesci Capital initiated coverage on Tourmaline Bio in a research note on Monday, February 24th. They set an “outperform” rating and a $58.00 price objective for the company. Cantor Fitzgerald restated an “overweight” rating and issued a $25.00 target price on shares of Tourmaline Bio in a report on Wednesday, December 11th. HC Wainwright upped their price target on shares of Tourmaline Bio from $49.00 to $50.00 and gave the company a “buy” rating in a report on Friday, March 14th. Finally, Guggenheim reissued a “buy” rating on shares of Tourmaline Bio in a report on Wednesday, December 11th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $45.20.

About Tourmaline Bio

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.