Tourmaline Bio, Inc. (NASDAQ:TRML) Stake Boosted by China Universal Asset Management Co. Ltd.

China Universal Asset Management Co. Ltd. increased its position in shares of Tourmaline Bio, Inc. (NASDAQ:TRML) by 63.7% in the 3rd quarter, Holdings Channel.com reports. The fund owned 4,932 shares of the company’s stock after buying an additional 1,920 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in Tourmaline Bio were worth $127,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Avoro Capital Advisors LLC raised its stake in shares of Tourmaline Bio by 155.9% during the 1st quarter. Avoro Capital Advisors LLC now owns 2,222,222 shares of the company’s stock worth $50,889,000 after purchasing an additional 1,353,815 shares in the last quarter. Jennison Associates LLC acquired a new position in Tourmaline Bio in the first quarter worth approximately $25,539,000. Darwin Global Management Ltd. bought a new position in Tourmaline Bio during the first quarter valued at approximately $10,648,000. StemPoint Capital LP acquired a new stake in Tourmaline Bio in the first quarter valued at approximately $6,280,000. Finally, Blue Owl Capital Holdings LP grew its position in Tourmaline Bio by 18.5% in the second quarter. Blue Owl Capital Holdings LP now owns 1,715,401 shares of the company’s stock worth $22,060,000 after acquiring an additional 268,000 shares in the last quarter. Institutional investors and hedge funds own 91.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on TRML shares. Cantor Fitzgerald upgraded shares of Tourmaline Bio to a “strong-buy” rating in a report on Tuesday, October 15th. HC Wainwright reaffirmed a “buy” rating and issued a $48.00 price target on shares of Tourmaline Bio in a research report on Monday, August 12th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $64.67.

Tourmaline Bio Trading Down 3.6 %

Shares of Tourmaline Bio stock opened at $25.52 on Friday. Tourmaline Bio, Inc. has a 1-year low of $12.12 and a 1-year high of $48.31. The firm has a fifty day simple moving average of $22.96 and a 200-day simple moving average of $17.68. The stock has a market capitalization of $654.36 million, a price-to-earnings ratio of -6.93 and a beta of 2.37.

Tourmaline Bio (NASDAQ:TRML) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.68) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.04. As a group, research analysts predict that Tourmaline Bio, Inc. will post -3.08 earnings per share for the current year.

Insider Buying and Selling at Tourmaline Bio

In other Tourmaline Bio news, CEO Sandeep Chidambar Kulkarni purchased 5,221 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was bought at an average cost of $13.79 per share, for a total transaction of $71,997.59. Following the completion of the acquisition, the chief executive officer now directly owns 5,221 shares in the company, valued at $71,997.59. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 11.02% of the company’s stock.

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.