Tourmaline Bio, Inc. (NASDAQ:TRML) Shares Bought by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lifted its position in shares of Tourmaline Bio, Inc. (NASDAQ:TRML) by 69.9% during the fourth quarter, HoldingsChannel reports. The fund owned 419,883 shares of the company’s stock after acquiring an additional 172,743 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Tourmaline Bio were worth $8,515,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in TRML. Brooklyn Investment Group acquired a new position in Tourmaline Bio during the 4th quarter worth approximately $32,000. KLP Kapitalforvaltning AS acquired a new position in Tourmaline Bio during the fourth quarter worth $47,000. The Manufacturers Life Insurance Company acquired a new position in Tourmaline Bio during the third quarter worth $226,000. MetLife Investment Management LLC purchased a new position in Tourmaline Bio in the third quarter worth $357,000. Finally, JPMorgan Chase & Co. lifted its holdings 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 acquiring an additional 2,100 shares during the period. 91.89% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on TRML shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $25.00 price target on shares of Tourmaline Bio in a report on Wednesday, December 11th. BMO Capital Markets initiated coverage on shares of Tourmaline Bio in a research report on Friday, December 6th. They set an “outperform” rating and a $50.00 price target for the company. Guggenheim reaffirmed a “buy” rating on shares of Tourmaline Bio in a research note on Wednesday, December 11th. Wedbush increased their price objective on shares of Tourmaline Bio from $42.00 to $43.00 and gave the company an “outperform” rating in a research note on Friday, March 14th. Finally, Lifesci Capital initiated coverage on shares of Tourmaline Bio in a research report on Monday, February 24th. They set an “outperform” rating and a $58.00 target price for the company. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Tourmaline Bio has a consensus rating of “Buy” and a consensus price target of $45.20.

Tourmaline Bio Stock Down 5.9 %

TRML opened at $13.40 on Thursday. The business’s fifty day simple moving average is $15.05 and its 200 day simple moving average is $20.79. Tourmaline Bio, Inc. has a 52 week low of $11.87 and a 52 week high of $29.79. The firm has a market cap of $344.18 million, a P/E ratio of -4.75 and a beta of 2.35.

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

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.