KLP Kapitalforvaltning AS Invests $47,000 in Tourmaline Bio, Inc. (NASDAQ:TRML)

KLP Kapitalforvaltning AS bought a new stake in Tourmaline Bio, Inc. (NASDAQ:TRML) 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.

Tourmaline Bio (NASDAQ:TRML) last announced its earnings results on Thursday, March 13th. The company reported ($0.86) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.91) by $0.05. The business had revenue of $0.04 million for the quarter. As a group, sell-side analysts anticipate that Tourmaline Bio, Inc. will post -3.02 EPS for the current fiscal year.

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.

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.