RTW Investments LP Cuts Holdings in Tourmaline Bio, Inc. (NASDAQ:TRML)

RTW Investments LP decreased its position in Tourmaline Bio, Inc. (NASDAQ:TRML) by 0.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 736,681 shares of the company’s stock after selling 4,975 shares during the period. RTW Investments LP’s holdings in Tourmaline Bio were worth $14,940,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brooklyn Investment Group purchased a new position in Tourmaline Bio in the fourth quarter valued at $32,000. Tower Research Capital LLC TRC increased its holdings in Tourmaline Bio by 297.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,646 shares of the company’s stock valued at $33,000 after buying an additional 1,232 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in Tourmaline Bio in the fourth quarter valued at $47,000. Virtus ETF Advisers LLC purchased a new position in Tourmaline Bio in the fourth quarter valued at $64,000. Finally, Invesco Ltd. increased its stake in shares of Tourmaline Bio by 10.8% during the fourth quarter. Invesco Ltd. now owns 12,155 shares of the company’s stock worth $247,000 after purchasing an additional 1,181 shares in the last quarter. Hedge funds and other institutional investors own 91.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Lifesci Capital assumed coverage on shares of Tourmaline Bio in a research note on Monday, February 24th. They set an “outperform” rating and a $58.00 target price for the company. Wedbush boosted their target price 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. Chardan Capital reissued a “buy” rating and set a $70.00 target price on shares of Tourmaline Bio in a research note on Monday, May 5th. Finally, HC Wainwright reissued a “buy” rating and set a $50.00 target price on shares of Tourmaline Bio in a research note on Monday, May 5th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $49.33.

Tourmaline Bio Trading Up 0.1%

TRML stock opened at $15.52 on Friday. The company has a market cap of $398.63 million, a price-to-earnings ratio of -5.50 and a beta of 2.11. The firm has a 50-day moving average of $15.61 and a two-hundred day moving average of $18.45. Tourmaline Bio, Inc. has a 12 month low of $11.56 and a 12 month high of $29.79.

Tourmaline Bio (NASDAQ:TRML) last issued its earnings results on Friday, May 2nd. The company reported ($0.89) earnings per share for the quarter, topping the consensus estimate of ($0.91) by $0.02. As a group, equities analysts forecast that Tourmaline Bio, Inc. will post -3.02 earnings per share for the current year.

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.