Cubist Systematic Strategies LLC Acquires Shares of 37,861 Tourmaline Bio, Inc. (NASDAQ:TRML)

Cubist Systematic Strategies LLC acquired a new stake in Tourmaline Bio, Inc. (NASDAQ:TRML) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 37,861 shares of the company’s stock, valued at approximately $487,000.

Several other institutional investors also recently bought and sold shares of the business. Avoro Capital Advisors LLC grew its holdings in Tourmaline Bio by 155.9% in the first quarter. Avoro Capital Advisors LLC now owns 2,222,222 shares of the company’s stock valued at $50,889,000 after purchasing an additional 1,353,815 shares during the period. Blue Owl Capital Holdings LP boosted its stake in shares of Tourmaline Bio by 18.5% in the second quarter. Blue Owl Capital Holdings LP now owns 1,715,401 shares of the company’s stock worth $22,060,000 after acquiring an additional 268,000 shares during the last quarter. Jennison Associates LLC acquired a new stake in shares of Tourmaline Bio in the first quarter worth approximately $25,539,000. Vanguard Group Inc. boosted its stake in shares of Tourmaline Bio by 19.7% in the first quarter. Vanguard Group Inc. now owns 914,519 shares of the company’s stock worth $20,942,000 after acquiring an additional 150,767 shares during the last quarter. Finally, Qiming U.S. Ventures Management LLC boosted its stake in shares of Tourmaline Bio by 15.6% in the first quarter. Qiming U.S. Ventures Management LLC now owns 741,691 shares of the company’s stock worth $16,985,000 after acquiring an additional 100,000 shares during the last quarter. 91.89% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Tourmaline Bio

In other Tourmaline Bio news, CEO Sandeep Chidambar Kulkarni purchased 5,221 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were acquired at an average price of $13.79 per share, with a total value of $71,997.59. Following the purchase, the chief executive officer now directly owns 5,221 shares in the company, valued at approximately $71,997.59. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 11.02% of the company’s stock.

Analyst Ratings Changes

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

Tourmaline Bio Stock Performance

Shares of Tourmaline Bio stock opened at $25.15 on Friday. Tourmaline Bio, Inc. has a one year low of $9.18 and a one year high of $48.31. The company has a market cap of $645.02 million, a price-to-earnings ratio of -3.87 and a beta of 2.37. The business’s 50 day moving average price is $19.30 and its 200 day moving average price is $17.13.

Tourmaline Bio (NASDAQ:TRML) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.68) EPS for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.04. On average, analysts predict that Tourmaline Bio, Inc. will post -3.12 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.