Tourmaline Bio
TRML
TRML was delisted on the 27th of October, 2025.
96 hedge funds and large institutions have $470M invested in Tourmaline Bio in 2024 Q1 according to their latest regulatory filings, with 50 funds opening new positions, 27 increasing their positions, 11 reducing their positions, and 8 closing their positions.
525% more first-time investments, than exits
New positions opened: 50 | Existing positions closed: 8
170% more call options, than puts
Call options by funds: $10.8M | Put options by funds: $3.98M
145% more repeat investments, than reductions
Existing positions increased: 27 | Existing positions reduced: 11
78% more funds holding
Funds holding: 54 → 96 (+42)
39% more capital invested
Capital invested by funds: $338M → $470M (+$132M)
16.15% more ownership
Funds ownership: 64.01% → 80.15% (+16%)
0% more funds holding in top 10
Funds holding in top 10: 5 → 5 (0)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
ACA
Avoro Capital Advisors
New York
|
+$47.7M |
| 2 |
CAM
Cormorant Asset Management
Boston,
Massachusetts
|
+$44.1M |
| 3 |
Jennison Associates
New York
|
+$39.3M |
| 4 |
TCM
TCG Crossover Management
Palo Alto,
California
|
+$16.6M |
| 5 |
DGM
Darwin Global Management
St. Helier,
Jersey
|
+$16.4M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
GPP
Great Point Partners
Greenwich,
Connecticut
|
-$17.6M |
| 2 |
Balyasny Asset Management
Chicago,
Illinois
|
-$11.4M |
| 3 |
DTC
Deep Track Capital
Greenwich,
Connecticut
|
-$7.77M |
| 4 |
LGM
Logos Global Management
San Francisco,
California
|
-$6.53M |
| 5 |
BCM
BML Capital Management
Zionsville,
Indiana
|
-$6.43M |
TRML Hedge Fund Activity: Q1 2024 in Review
96 of the 6,943 institutional investors tracked by Wall St. Rank reported a position in Tourmaline Bio (TRML) for Q1 2024, worth a combined $470M — up 39% from $338M a quarter earlier.
Buyers outnumbered sellers: 50 funds opened new TRML positions and 8 closed out — a net gain of 42 holders — while 27 added to existing stakes and 11 trimmed.
The largest buyer was Avoro Capital Advisors, adding an estimated $47.7M. The largest seller was Great Point Partners, exiting entirely with an estimated $17.6M sold.
- 96 institutional investors held Tourmaline Bio (TRML) as of Q1 2024, up from 54 in Q4 2023.
- Funds reported $470M of Tourmaline Bio stock for Q1 2024, up 39% quarter-over-quarter.
- 50 funds opened new Tourmaline Bio positions in Q1 2024 and 8 closed out, a net change of +42 holders.
- The largest Tourmaline Bio buyer in Q1 2024 was Avoro Capital Advisors, an estimated $47.7M added.
- The largest Tourmaline Bio seller in Q1 2024 was Great Point Partners, an estimated $17.6M sold.
Based on aggregated 13F filings for Q1 2024.