Quest Partners LLC Increases Stock Position in Tourmaline Bio, Inc. (NASDAQ:TRML)

Quest Partners LLC lifted its position in shares of Tourmaline Bio, Inc. (NASDAQ:TRML) by 134.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,822 shares of the company’s stock after buying an additional 2,189 shares during the period. Quest Partners LLC’s holdings in Tourmaline Bio were worth $49,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Jump Financial LLC purchased a new stake in Tourmaline Bio during the fourth quarter valued at about $380,000. Affinity Asset Advisors LLC purchased a new stake in shares of Tourmaline Bio during the 4th quarter worth about $1,782,000. RTW Investments LP acquired a new stake in Tourmaline Bio during the 4th quarter worth approximately $10,442,000. Avoro Capital Advisors LLC acquired a new stake in Tourmaline Bio during the 4th quarter worth approximately $22,735,000. Finally, Braidwell LP purchased a new position in Tourmaline Bio in the fourth quarter valued at approximately $23,741,000. 91.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reiterated a “buy” rating and set a $48.00 price objective on shares of Tourmaline Bio in a research note on Monday, August 12th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $61.80.

Tourmaline Bio Stock Performance

Shares of NASDAQ:TRML opened at $21.00 on Thursday. The business’s 50-day simple moving average is $15.88 and its 200 day simple moving average is $18.61. The company has a market cap of $538.59 million, a P/E ratio of -3.23 and a beta of 2.31. Tourmaline Bio, Inc. has a one year low of $9.18 and a one year high of $48.31.

Tourmaline Bio (NASDAQ:TRML) last posted its quarterly earnings data 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. Analysts predict that Tourmaline Bio, Inc. will post -3.12 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Sandeep Chidambar Kulkarni acquired 5,221 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was bought at an average cost of $13.79 per share, with a total value of $71,997.59. Following the transaction, the chief executive officer now directly owns 5,221 shares in the company, valued at approximately $71,997.59. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 11.02% of the stock is currently owned by insiders.

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.