Nan Fung Trinity HK Ltd. Purchases New Stake in Tourmaline Bio, Inc. $TRML

Nan Fung Trinity HK Ltd. bought a new stake in shares of Tourmaline Bio, Inc. (NASDAQ:TRML) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 227,090 shares of the company’s stock, valued at approximately $3,631,000. Nan Fung Trinity HK Ltd. owned approximately 0.88% of Tourmaline Bio at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in TRML. Federated Hermes Inc. boosted its position in shares of Tourmaline Bio by 13,036.0% in the first quarter. Federated Hermes Inc. now owns 121,245 shares of the company’s stock worth $1,844,000 after buying an additional 120,322 shares during the period. Vanguard Group Inc. boosted its holdings in Tourmaline Bio by 7.7% in the 1st quarter. Vanguard Group Inc. now owns 1,190,810 shares of the company’s stock worth $18,112,000 after acquiring an additional 84,685 shares during the period. Charles Schwab Investment Management Inc. grew its position in Tourmaline Bio by 2.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 65,850 shares of the company’s stock valued at $1,002,000 after acquiring an additional 1,791 shares in the last quarter. Swiss National Bank lifted its position in shares of Tourmaline Bio by 11.4% during the first quarter. Swiss National Bank now owns 22,400 shares of the company’s stock worth $341,000 after purchasing an additional 2,300 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Tourmaline Bio by 63.9% in the first quarter. Invesco Ltd. now owns 19,920 shares of the company’s stock valued at $303,000 after purchasing an additional 7,765 shares during the period. 91.89% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tourmaline Bio in a research note on Wednesday, October 8th. Truist Financial cut Tourmaline Bio from a “buy” rating to a “hold” rating and cut their price target for the stock from $63.00 to $48.00 in a research note on Wednesday, September 10th. BMO Capital Markets lowered Tourmaline Bio from an “outperform” rating to a “market perform” rating and upped their target price for the company from $35.00 to $48.00 in a research report on Monday, September 15th. Jefferies Financial Group cut Tourmaline Bio from a “buy” rating to a “hold” rating and reduced their target price for the company from $64.00 to $47.50 in a research note on Tuesday, September 9th. Finally, Wall Street Zen upgraded shares of Tourmaline Bio to a “sell” rating in a research note on Saturday, November 1st. One investment analyst has rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $45.65.

Tourmaline Bio Stock Performance

Shares of TRML opened at $47.98 on Wednesday. Tourmaline Bio, Inc. has a 52 week low of $11.56 and a 52 week high of $48.27. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of -13.99 and a beta of 2.27. The stock has a 50 day moving average of $46.17 and a 200-day moving average of $28.37.

Tourmaline Bio (NASDAQ:TRML) last released its quarterly earnings data on Wednesday, August 13th. The company reported ($0.90) EPS for the quarter, topping analysts’ consensus estimates of ($0.94) by $0.04. On average, sell-side analysts predict that Tourmaline Bio, Inc. will post -3.02 earnings per share for the current fiscal year.

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.