Acuta Capital Partners LLC Has $8.54 Million Holdings in Tourmaline Bio, Inc. (NASDAQ:TRML)

Acuta Capital Partners LLC raised its holdings in shares of Tourmaline Bio, Inc. (NASDAQ:TRML) by 23.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 332,095 shares of the company’s stock after acquiring an additional 62,481 shares during the quarter. Tourmaline Bio makes up about 6.9% of Acuta Capital Partners LLC’s investment portfolio, making the stock its 3rd biggest position. Acuta Capital Partners LLC owned about 1.30% of Tourmaline Bio worth $8,538,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in TRML. Vanguard Group Inc. raised its position in shares of Tourmaline Bio by 19.7% during the first quarter. Vanguard Group Inc. now owns 914,519 shares of the company’s stock valued at $20,942,000 after buying an additional 150,767 shares during the last quarter. Janus Henderson Group PLC bought a new stake in Tourmaline Bio in the 1st quarter valued at $266,000. California State Teachers Retirement System purchased a new stake in Tourmaline Bio in the 1st quarter worth $334,000. SG Americas Securities LLC bought a new position in shares of Tourmaline Bio during the 2nd quarter valued at about $433,000. Finally, AlphaCentric Advisors LLC grew its position in shares of Tourmaline Bio by 22.7% during the second quarter. AlphaCentric Advisors LLC now owns 75,000 shares of the company’s stock valued at $964,000 after purchasing an additional 13,900 shares in the last quarter. 91.89% of the stock is currently owned by hedge funds and other institutional investors.

Tourmaline Bio Trading Up 7.7 %

Shares of NASDAQ:TRML opened at $25.66 on Thursday. The company has a market cap of $657.92 million, a price-to-earnings ratio of -9.10 and a beta of 2.36. Tourmaline Bio, Inc. has a 12 month low of $12.12 and a 12 month high of $48.31. The company has a 50-day moving average price of $25.97 and a 200 day moving average price of $18.94.

Tourmaline Bio (NASDAQ:TRML) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.78) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.84) by $0.06. As a group, equities analysts forecast that Tourmaline Bio, Inc. will post -3.08 EPS for the current year.

Analyst Ratings Changes

TRML has been the topic of a number of research analyst reports. HC Wainwright boosted their target price on Tourmaline Bio from $48.00 to $49.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Cantor Fitzgerald raised Tourmaline Bio to a “strong-buy” rating in a report on Tuesday, October 15th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tourmaline Bio has an average rating of “Buy” and an average target price of $65.00.

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.