Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) Director Timothy A. Springer bought 3,718 shares of the firm's stock in a transaction dated Wednesday, April 9th. The shares were acquired at an average price of $14.76 per share, with a total value of $54,877.68. Following the completion of the transaction, the director now owns 4,317,276 shares of the company's stock, valued at approximately $63,722,993.76. The trade was a 0.09 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Tectonic Therapeutic Stock Down 3.1 %
Shares of NASDAQ TECX opened at $16.16 on Friday. Tectonic Therapeutic has a twelve month low of $13.70 and a twelve month high of $61.07. The business has a fifty day simple moving average of $24.50 and a two-hundred day simple moving average of $36.09. The firm has a market cap of $301.59 million, a PE ratio of -2.74 and a beta of 2.87.
Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) last released its quarterly earnings data 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. On average, research analysts expect that Tectonic Therapeutic will post -8.31 earnings per share for the current year.
Institutional Investors Weigh In On Tectonic Therapeutic
Several hedge funds have recently modified their holdings of the business. Geode Capital Management LLC raised its position in shares of Tectonic Therapeutic by 147.7% in the 3rd quarter. Geode Capital Management LLC now owns 76,879 shares of the company's stock worth $2,331,000 after acquiring an additional 45,846 shares in the last quarter. Clarius Group LLC purchased a new position in Tectonic Therapeutic in the fourth quarter valued at about $468,000. Charles Schwab Investment Management Inc. bought a new position in Tectonic Therapeutic in the fourth quarter worth about $218,000. Commonwealth Equity Services LLC purchased a new stake in shares of Tectonic Therapeutic during the fourth quarter valued at about $231,000. Finally, China Universal Asset Management Co. Ltd. bought a new stake in shares of Tectonic Therapeutic in the 4th quarter valued at about $144,000. Hedge funds and other institutional investors own 62.63% of the company's stock.
Analyst Upgrades and Downgrades
Separately, Wells Fargo & Company decreased their price objective on shares of Tectonic Therapeutic from $112.00 to $101.00 and set an "overweight" rating for the company in a report on Friday, March 21st. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $77.75.
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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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