Insider Buying: Tectonic Therapeutic (NASDAQ:TECX) CFO Purchases $129,660.00 in Stock

Tectonic Therapeutic, Inc. (NASDAQ:TECX) CFO Daniel Lochner purchased 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The stock was bought at an average cost of $21.61 per share, for a total transaction of $129,660.00. Following the completion of the purchase, the chief financial officer directly owned 32,044 shares in the company, valued at $692,470.84. This represents a 23.04% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Tectonic Therapeutic Trading Down 1.9%

TECX stock opened at $22.28 on Friday. Tectonic Therapeutic, Inc. has a 12-month low of $13.70 and a 12-month high of $36.11. The business’s 50-day moving average is $20.60 and its 200 day moving average is $19.65. The stock has a market cap of $417.08 million, a price-to-earnings ratio of -5.77 and a beta of 3.71.

Wall Street Analyst Weigh In

Several research firms recently commented on TECX. Truist Financial reduced their price objective on Tectonic Therapeutic from $64.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, January 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tectonic Therapeutic in a report on Thursday, January 22nd. Lifesci Capital upgraded shares of Tectonic Therapeutic to a “strong-buy” rating in a research report on Thursday, February 5th. Finally, Wells Fargo & Company started coverage on shares of Tectonic Therapeutic in a research note on Monday, October 20th. They issued an “overweight” rating and a $101.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Tectonic Therapeutic currently has a consensus rating of “Moderate Buy” and an average price target of $81.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Marshall Wace LLP grew its holdings in shares of Tectonic Therapeutic by 23.3% in the fourth quarter. Marshall Wace LLP now owns 30,918 shares of the company’s stock valued at $645,000 after purchasing an additional 5,842 shares during the period. State Street Corp boosted its holdings in Tectonic Therapeutic by 26.3% in the 4th quarter. State Street Corp now owns 209,125 shares of the company’s stock valued at $4,362,000 after purchasing an additional 43,594 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in Tectonic Therapeutic by 17.5% in the 4th quarter. Wells Fargo & Company MN now owns 120,411 shares of the company’s stock valued at $2,512,000 after purchasing an additional 17,938 shares during the last quarter. Dimensional Fund Advisors LP purchased a new stake in shares of Tectonic Therapeutic in the 4th quarter valued at approximately $210,000. Finally, AlphaCentric Advisors LLC acquired a new stake in shares of Tectonic Therapeutic during the 4th quarter worth approximately $135,000. Institutional investors and hedge funds own 62.63% of the company’s stock.

Tectonic Therapeutic Company Profile

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.