Avoro Capital Advisors 13F: Exits TRML Stake

Avoro Capital Advisors has completely exited its position in TRML. According to its latest filing with the SEC, the firm sold its entire holding of 2,555,555 shares. This move reflects a 100% reduction from its prior stake.

What Changed in Avoro Capital Advisors' TRML Position

Avoro Capital Advisors had previously held 2,555,555 shares of TRML. As of the latest filing, the firm has sold all its shares, marking a complete exit from the stock. The exact value of the sale wasn't disclosed.

Insider Buying and Selling at TRML

Insider activity at TRML shows significant selling activity on October 28, 2025. Bradford Middlekauff, the Chief Business Officer and General Counsel, sold 60,988 shares. Sapna Srivastava sold 46,800 shares, while Susan Dana Jones, the Chief Technology Officer, sold 3,152 shares. Additionally, Kevin Bruce Johnson, the Chief Regulatory Officer, sold 11,046 shares, and Caley Castelein sold 36,800 shares. These transactions were not part of a pre-planned trading program.

Analysts Set New Price Targets

Several analysts downgraded TRML to a hold rating in September 2025. BMO Capital, Piper Sandler, Truist Securities, Guggenheim, HC Wainwright & Co., and Chardan Capital all set a price target of $48. Meanwhile, Jefferies set its target slightly lower at $47.5. These downgrades suggest a cautious outlook on the stock.

Bottom Line

Avoro Capital Advisors' decision to sell its entire stake in TRML is noteworthy, as it reflects a significant shift in its investment strategy. Insider selling and analyst downgrades further highlight the cautious sentiment surrounding TRML. It's important to remember that 13F filings are backward-looking and may not reflect current positions. Investors often track such filings to gauge institutional sentiment and potential market movements.