HighVista Strategies LLC Increases Position in Tourmaline Bio, Inc. (NASDAQ:TRML)

HighVista Strategies LLC increased its position in Tourmaline Bio, Inc. (NASDAQ:TRML) by 57.2% in the second quarter, HoldingsChannel.com reports. The fund owned 83,397 shares of the company’s stock after buying an additional 30,345 shares during the period. HighVista Strategies LLC’s holdings in Tourmaline Bio were worth $1,072,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets acquired a new stake in shares of Tourmaline Bio during the first quarter worth about $31,000. Quest Partners LLC increased its stake in shares of Tourmaline Bio by 134.0% in the second quarter. Quest Partners LLC now owns 3,822 shares of the company’s stock worth $49,000 after acquiring an additional 2,189 shares during the period. China Universal Asset Management Co. Ltd. raised its holdings in shares of Tourmaline Bio by 109.5% during the first quarter. China Universal Asset Management Co. Ltd. now owns 4,939 shares of the company’s stock worth $113,000 after purchasing an additional 2,582 shares during the last quarter. Denali Advisors LLC acquired a new position in Tourmaline Bio during the first quarter valued at $128,000. Finally, Janus Henderson Group PLC purchased a new stake in Tourmaline Bio in the first quarter valued at $266,000. Institutional investors and hedge funds own 91.89% of the company’s stock.

Tourmaline Bio Stock Performance

Shares of NASDAQ TRML opened at $23.02 on Monday. The company has a market capitalization of $590.39 million, a PE ratio of -3.54 and a beta of 2.31. The company’s fifty day moving average price is $16.35 and its 200 day moving average price is $18.23. Tourmaline Bio, Inc. has a 1 year low of $9.18 and a 1 year high of $48.31.

Tourmaline Bio (NASDAQ:TRML) last posted its earnings results on Thursday, August 8th. The company reported ($0.68) EPS for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.04. On average, equities analysts expect that Tourmaline Bio, Inc. will post -3.12 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reiterated a “buy” rating and set a $48.00 price objective on shares of Tourmaline Bio in a research note on Monday, August 12th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $61.80.

Insider Buying and Selling at Tourmaline Bio

In related news, CEO Sandeep Chidambar Kulkarni bought 5,221 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was acquired at an average price of $13.79 per share, with a total value of $71,997.59. Following the completion of the purchase, the chief executive officer now directly owns 5,221 shares of the company’s stock, valued at $71,997.59. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 11.02% of the stock is owned by corporate insiders.

Tourmaline Bio 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.