KLP Kapitalforvaltning AS bought a new stake in Tourmaline Bio, Inc. (NASDAQ:TRML – Free Report) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 2,300 shares of the company’s stock, valued at approximately $47,000.
A number of other institutional investors also recently added to or reduced their stakes in TRML. Brooklyn Investment Group acquired a new stake in shares of Tourmaline Bio in the 4th quarter valued at $32,000. The Manufacturers Life Insurance Company purchased a new position in Tourmaline Bio in the third quarter valued at $226,000. JPMorgan Chase & Co. raised its stake in Tourmaline Bio by 16.5% in the third quarter. JPMorgan Chase & Co. now owns 14,804 shares of the company’s stock valued at $381,000 after buying an additional 2,100 shares in the last quarter. Swiss National Bank purchased a new stake in Tourmaline Bio during the 4th quarter worth about $408,000. Finally, Jane Street Group LLC boosted its position 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 acquiring an additional 41,205 shares in the last quarter. Hedge funds and other institutional investors own 91.89% of the company’s stock.
Tourmaline Bio Stock Up 8.3 %
NASDAQ:TRML opened at $13.10 on Friday. The company has a market capitalization of $336.47 million, a PE ratio of -4.65 and a beta of 2.14. Tourmaline Bio, Inc. has a 52-week low of $11.56 and a 52-week high of $29.79. The stock’s 50 day moving average price is $14.32 and its 200 day moving average price is $20.20.
Wall Street Analysts Forecast Growth
Several equities research analysts recently weighed in on TRML shares. HC Wainwright boosted their target price on Tourmaline Bio from $49.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, March 14th. Wedbush raised their price objective on shares of Tourmaline Bio from $42.00 to $43.00 and gave the stock an “outperform” rating in a report on Friday, March 14th. Finally, Lifesci Capital initiated coverage on shares of Tourmaline Bio in a report on Monday, February 24th. They issued an “outperform” rating and a $58.00 target price for the company. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $45.20.
Get Our Latest Stock Analysis on Tourmaline Bio
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.
See Also
- Five stocks we like better than Tourmaline Bio
- How to Choose Top Rated Stocks
- Robinhood Strategies Could Be a Game-Changer for Young Investors
- What Are Dividends? Buy the Best Dividend Stocks
- Are These 3 Retail Stocks Oversold or Really in Trouble?
- How to Invest in Tech StocksĀ and Top Tech Stocks to Consider
- IONQ & RGTI Join DARPA Quantum Initiative: High Stakes Are Ahead
Want to see what other hedge funds are holding TRML? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tourmaline Bio, Inc. (NASDAQ:TRML – Free Report).
Receive News & Ratings for Tourmaline Bio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tourmaline Bio and related companies with MarketBeat.com's FREE daily email newsletter.