Jane Street Group LLC Reduces Stock Position in Tourmaline Bio, Inc. (NASDAQ:TRML)

Jane Street Group LLC lessened its stake in shares of Tourmaline Bio, Inc. (NASDAQ:TRML) by 17.6% in the fourth quarter, HoldingsChannel reports. The firm owned 17,887 shares of the company’s stock after selling 3,818 shares during the quarter. Jane Street Group LLC’s holdings in Tourmaline Bio were worth $363,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. purchased a new stake in Tourmaline Bio in the 4th quarter valued at about $12,168,000. Pictet Asset Management Holding SA grew its holdings in Tourmaline Bio by 69.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 419,883 shares of the company’s stock valued at $8,515,000 after buying an additional 172,743 shares during the period. Schonfeld Strategic Advisors LLC grew its holdings in Tourmaline Bio by 50.5% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 298,239 shares of the company’s stock valued at $6,048,000 after buying an additional 100,139 shares during the period. Polymer Capital Management HK LTD purchased a new stake in Tourmaline Bio in the 4th quarter valued at about $1,610,000. Finally, Vanguard Group Inc. grew its holdings in Tourmaline Bio by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 1,106,125 shares of the company’s stock valued at $22,432,000 after buying an additional 43,652 shares during the period. Hedge funds and other institutional investors own 91.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on TRML shares. Wedbush lifted their price target on Tourmaline Bio from $42.00 to $43.00 and gave the company an “outperform” rating in a report on Friday, March 14th. Chardan Capital restated a “buy” rating and issued a $70.00 price target on shares of Tourmaline Bio in a report on Monday, May 5th. Lifesci Capital started coverage on Tourmaline Bio in a report on Monday, February 24th. They issued an “outperform” rating and a $58.00 price target for the company. Finally, HC Wainwright restated a “buy” rating and issued a $50.00 price target on shares of Tourmaline Bio in a report on Monday, May 5th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $49.33.

Tourmaline Bio Price Performance

NASDAQ TRML opened at $16.81 on Monday. The firm has a market capitalization of $431.76 million, a P/E ratio of -5.96 and a beta of 2.11. Tourmaline Bio, Inc. has a 1-year low of $11.56 and a 1-year high of $29.79. The business’s 50-day simple moving average is $15.33 and its 200-day simple moving average is $17.48.

Tourmaline Bio (NASDAQ:TRML) last released its quarterly earnings data on Friday, May 2nd. The company reported ($0.89) earnings per share for the quarter, beating the consensus estimate of ($0.91) by $0.02. On average, equities research analysts expect that Tourmaline Bio, Inc. will post -3.02 EPS for the current fiscal year.

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.