Vivo Capital LLC Buys New Position in Tourmaline Bio, Inc. (NASDAQ:TRML)

Vivo Capital LLC purchased a new position in shares of Tourmaline Bio, Inc. (NASDAQ:TRML) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 591,882 shares of the company’s stock, valued at approximately $15,495,000. Tourmaline Bio makes up 1.3% of Vivo Capital LLC’s holdings, making the stock its 15th largest holding. Vivo Capital LLC owned approximately 2.91% of Tourmaline Bio as of its most recent filing with the SEC.

Separately, BML Capital Management LLC bought a new position in shares of Tourmaline Bio in the 4th quarter worth $6,427,000. 91.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. HC Wainwright reissued a “buy” rating and issued a $48.00 price target on shares of Tourmaline Bio in a research report on Wednesday, March 20th. Jefferies Financial Group raised their target price on Tourmaline Bio from $41.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Finally, Truist Financial reiterated a “buy” rating and set a $74.00 price target on shares of Tourmaline Bio in a research note on Monday, March 25th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $61.80.

Tourmaline Bio Trading Up 1.8 %

Shares of TRML stock traded up $0.28 on Thursday, hitting $15.83. 23,892 shares of the stock were exchanged, compared to its average volume of 370,873. The firm has a market capitalization of $405.99 million, a PE ratio of -1.37 and a beta of 2.42. Tourmaline Bio, Inc. has a one year low of $9.18 and a one year high of $48.31. The firm’s 50 day moving average is $26.06 and its two-hundred day moving average is $25.80.

Tourmaline Bio (NASDAQ:TRML) last issued its earnings results on Tuesday, March 19th. The company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.75) by ($0.06). On average, sell-side analysts expect that Tourmaline Bio, Inc. will post -2.9 earnings per share for the current 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.