Tectonic Therapeutic (NASDAQ:TECX) Insider Sells $41,250.00 in Stock

Tectonic Therapeutic, Inc. (NASDAQ:TECX) insider Peter Mcnamara sold 1,650 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $25.00, for a total value of $41,250.00. Following the completion of the sale, the insider owned 58,832 shares of the company’s stock, valued at $1,470,800. This trade represents a 2.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Peter Mcnamara also recently made the following trade(s):

• On Tuesday, March 3rd, Peter Mcnamara sold 1,649 shares of Tectonic Therapeutic stock. The shares were sold at an average price of $22.06, for a total value of $36,376.94.

Tectonic Therapeutic Price Performance

Shares of TECX opened at $35.87 on Friday. The stock has a market capitalization of $673.64 million, a PE ratio of -8.86 and a beta of 3.76. The business’s fifty day moving average price is $21.78 and its 200 day moving average price is $19.77. Tectonic Therapeutic, Inc. has a 12-month low of $13.70 and a 12-month high of $36.03.

Tectonic Therapeutic (NASDAQ:TECX) last released its earnings results on Thursday, February 26th. The company reported ($1.03) earnings per share for the quarter, beating the consensus estimate of ($1.11) by $0.08. As a group, research analysts anticipate that Tectonic Therapeutic, Inc. will post -8.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TECX has been the subject of a number of recent research reports. Truist Financial lowered their price objective on shares of Tectonic Therapeutic from $64.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Tectonic Therapeutic in a research note on Thursday, January 22nd. Finally, Lifesci Capital raised Tectonic Therapeutic to a “strong-buy” rating in a report on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $81.50.

Institutional Investors Weigh In On Tectonic Therapeutic

Hedge funds have recently added to or reduced their stakes in the stock. Vestal Point Capital LP acquired a new position in shares of Tectonic Therapeutic during the fourth quarter valued at $6,842,000. Virtus Investment Advisers LLC increased its holdings in shares of Tectonic Therapeutic by 165.5% in the 4th quarter. Virtus Investment Advisers LLC now owns 13,462 shares of the company’s stock worth $281,000 after acquiring an additional 8,391 shares during the period. Orbimed Advisors LLC bought a new stake in Tectonic Therapeutic in the 4th quarter valued at about $11,986,000. Opaleye Management Inc. bought a new stake in Tectonic Therapeutic in the 4th quarter valued at about $4,480,000. Finally, Millennium Management LLC boosted its stake in Tectonic Therapeutic by 26.3% during the 4th quarter. Millennium Management LLC now owns 300,820 shares of the company’s stock valued at $6,275,000 after purchasing an additional 62,650 shares during the period. 62.63% of the stock is currently owned by institutional investors.

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.