Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) Director Timothy A. Springer bought 87,500 shares of the business's stock in a transaction on Monday, April 7th. The stock was purchased at an average price of $17.10 per share, for a total transaction of $1,496,250.00. Following the purchase, the director now directly owns 4,313,558 shares in the company, valued at approximately $73,761,841.80. This represents a 2.07 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Tectonic Therapeutic Stock Up 14.8 %
Shares of NASDAQ:TECX opened at $16.84 on Thursday. The stock has a market cap of $314.28 million, a price-to-earnings ratio of -2.86 and a beta of 2.87. The business's 50 day moving average is $25.82 and its 200 day moving average is $36.23. Tectonic Therapeutic has a 12-month low of $13.70 and a 12-month high of $61.07.
Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) last announced its quarterly earnings results on Thursday, March 20th. The company reported ($0.84) earnings per share for the quarter, beating the consensus estimate of ($1.39) by $0.55. As a group, equities research analysts expect that Tectonic Therapeutic will post -8.31 earnings per share for the current year.
Hedge Funds Weigh In On Tectonic Therapeutic
Institutional investors and hedge funds have recently bought and sold shares of the stock. Paradigm Biocapital Advisors LP purchased a new position in shares of Tectonic Therapeutic in the 4th quarter valued at approximately $22,397,000. Farallon Capital Management LLC increased its holdings in shares of Tectonic Therapeutic by 37.0% in the 4th quarter. Farallon Capital Management LLC now owns 713,050 shares of the company's stock worth $32,922,000 after purchasing an additional 192,653 shares in the last quarter. Invesco Ltd. bought a new stake in shares of Tectonic Therapeutic in the 4th quarter worth $5,918,000. Susquehanna International Group LLP grew its holdings in shares of Tectonic Therapeutic by 165.2% in the fourth quarter. Susquehanna International Group LLP now owns 166,452 shares of the company's stock worth $7,685,000 after acquiring an additional 103,698 shares during the period. Finally, Balyasny Asset Management L.P. lifted its position in Tectonic Therapeutic by 36.9% during the fourth quarter. Balyasny Asset Management L.P. now owns 247,000 shares of the company's stock valued at $11,404,000 after purchasing an additional 66,527 shares in the last quarter. 62.63% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Separately, Wells Fargo & Company reduced their target price on Tectonic Therapeutic from $112.00 to $101.00 and set an "overweight" rating on the stock in a report on Friday, March 21st. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $77.75.
Get Our Latest Stock Analysis on TECX
About Tectonic Therapeutic
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Tectonic Therapeutic, Inc engages in discovery and development of therapeutic proteins & antibodies. The company was founded by Timothy A. Springer and Andrew Kruse in 2019 and is headquartered in Watertown, MA.
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