Polymer Capital Management HK LTD Acquires Shares of 79,400 Tourmaline Bio, Inc. (NASDAQ:TRML)

Polymer Capital Management HK LTD purchased a new stake in shares of Tourmaline Bio, Inc. (NASDAQ:TRML) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 79,400 shares of the company’s stock, valued at approximately $1,610,000. Polymer Capital Management HK LTD owned approximately 0.31% of Tourmaline Bio at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Tourmaline Bio by 4.1% in the fourth quarter. Vanguard Group Inc. now owns 1,106,125 shares of the company’s stock worth $22,432,000 after acquiring an additional 43,652 shares in the last quarter. Geode Capital Management LLC grew its position in Tourmaline Bio by 6.4% during the third quarter. Geode Capital Management LLC now owns 482,078 shares of the company’s stock worth $12,396,000 after buying an additional 29,005 shares in the last quarter. Pictet Asset Management Holding SA lifted its position in Tourmaline Bio by 69.9% in the fourth quarter. Pictet Asset Management Holding SA now owns 419,883 shares of the company’s stock worth $8,515,000 after purchasing an additional 172,743 shares during the period. State Street Corp increased its stake in Tourmaline Bio by 25.6% in the third quarter. State Street Corp now owns 411,980 shares of the company’s stock valued at $10,592,000 after acquiring an additional 83,949 shares during the period. Finally, Point72 Asset Management L.P. bought a new position in shares of Tourmaline Bio during the 3rd quarter worth approximately $8,701,000. Institutional investors and hedge funds own 91.89% of the company’s stock.

Tourmaline Bio Stock Down 2.2 %

Shares of Tourmaline Bio stock opened at $12.83 on Friday. Tourmaline Bio, Inc. has a 52 week low of $11.87 and a 52 week high of $29.79. The company has a market cap of $329.54 million, a PE ratio of -4.55 and a beta of 2.35. The business has a 50 day moving average price of $14.87 and a 200-day moving average price of $20.70.

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

Analysts Set New Price Targets

A number of research firms recently weighed in on TRML. Wedbush raised their price target on Tourmaline Bio from $42.00 to $43.00 and gave the company an “outperform” rating in a report on Friday, March 14th. Guggenheim restated a “buy” rating on shares of Tourmaline Bio in a research report on Wednesday, December 11th. Lifesci Capital assumed coverage on shares of Tourmaline Bio in a research note on Monday, February 24th. They issued an “outperform” rating and a $58.00 target price for the company. HC Wainwright lifted their price objective on Tourmaline Bio from $49.00 to $50.00 and gave the company a “buy” rating in a report on Friday, March 14th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $25.00 target price on shares of Tourmaline Bio in a report on Wednesday, December 11th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $45.20.

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.