Velan Capital Investment Management’s Tourmaline Bio TRML Stock Holding History

Velan Capital Investment Management’s Portfolio TRML Stock Details TRML Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2025 Q4	–	Sell	-5,800	Closed	-$277K	–	54
2025 Q3	$277K	Sell	5,800 -388,089	-99%	-$10.8M	0.26%	26
2025 Q2	$6.3M	Sell	393,889 -61,523	-14%	-$997K	6.22%	6
2025 Q1	$6.93M	Buy	455,412 +31,617	+7%	+$507K	7.13%	6
2024 Q4	$8.59M	Buy	423,795 +92,605	+28%	+$2.33M	7.42%	4
2024 Q3	$8.51M	Buy	331,190 +12,110	+4%	+$202K	7.96%	5
2024 Q2	$4.1M	Hold	319,080	–	–	2.35%	5
2024 Q1	$7.31M	Hold	319,080	–	–	3.32%	8
2023 Q4	$8.35M	Buy	+319,080	New	+$6.39M	4.88%	6

Velan Capital Investment Management's TRML Position: Q4 2025 in Review

Velan Capital Investment Management sold out of Tourmaline Bio (TRML) in Q4 2025, closing a stake of 5,800 shares — an estimated $277K sold.

Velan Capital Investment Management first reported a position in TRML in Q4 2023 and held it in 8 quarters. The position peaked at $8.59M in Q4 2024. 0 funds tracked by Wall St. Rank hold TRML as of Q4 2025.

Velan Capital Investment Management reported no remaining Tourmaline Bio position as of Q4 2025 after selling out during the quarter.
Velan Capital Investment Management sold 5,800 Tourmaline Bio shares in Q4 2025, an estimated $277K.
Velan Capital Investment Management first reported a position in Tourmaline Bio in Q4 2023 and held it in 8 quarters.
Velan Capital Investment Management's Tourmaline Bio position peaked at $8.59M in Q4 2024.
0 funds tracked by Wall St. Rank held Tourmaline Bio as of Q4 2025.

Based on Velan Capital Investment Management's 13F filing for Q4 2025, filed 13 Feb 2026.