California State Teachers Retirement System Has $213,000 Stake in Tourmaline Bio, Inc. (NASDAQ:TRML)

California State Teachers Retirement System increased its stake in shares of Tourmaline Bio, Inc. (NASDAQ:TRML) by 527.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 10,505 shares of the company’s stock after buying an additional 8,832 shares during the quarter. California State Teachers Retirement System’s holdings in Tourmaline Bio were worth $213,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Tower Research Capital LLC TRC boosted its stake in shares of Tourmaline Bio by 297.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,646 shares of the company’s stock valued at $33,000 after purchasing an additional 1,232 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Tourmaline Bio in the 4th quarter valued at $47,000. Virtus ETF Advisers LLC acquired a new position in shares of Tourmaline Bio during the 4th quarter valued at $64,000. Invesco Ltd. boosted its position in shares of Tourmaline Bio by 10.8% during the 4th quarter. Invesco Ltd. now owns 12,155 shares of the company’s stock worth $247,000 after purchasing an additional 1,181 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in Tourmaline Bio by 39.7% in the fourth quarter. Alliancebernstein L.P. now owns 12,950 shares of the company’s stock worth $263,000 after acquiring an additional 3,680 shares in the last quarter. 91.89% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Wedbush upped their target price on shares of Tourmaline Bio from $42.00 to $43.00 and gave the stock an “outperform” rating in a report on Friday, March 14th. HC Wainwright reaffirmed a “buy” rating and set a $50.00 price target on shares of Tourmaline Bio in a research report on Monday, May 5th. Chardan Capital reiterated a “buy” rating and set a $70.00 target price on shares of Tourmaline Bio in a research note on Monday, May 5th. Finally, Lifesci Capital initiated 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 on the stock. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $49.33.

Tourmaline Bio Stock Up 4.2%

NASDAQ TRML opened at $19.90 on Friday. The firm has a market cap of $511.13 million, a price-to-earnings ratio of -7.06 and a beta of 2.05. The business has a 50-day moving average price of $16.08 and a 200-day moving average price of $17.25. Tourmaline Bio, Inc. has a twelve month low of $11.56 and a twelve month high of $29.79.

Tourmaline Bio (NASDAQ:TRML) last issued its earnings results on Friday, May 2nd. The company reported ($0.89) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.91) by $0.02. Research analysts expect that Tourmaline Bio, Inc. will post -3.02 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.