Insider Selling: Tectonic Therapeutic (NASDAQ:TECX) Insider Sells 10,000 Shares of Stock

Tectonic Therapeutic, Inc. (NASDAQ:TECX) insider Marcella Ruddy sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $30.00, for a total value of $300,000.00. Following the completion of the transaction, the insider owned 69,747 shares of the company’s stock, valued at approximately $2,092,410. The trade was a 12.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Tectonic Therapeutic Price Performance

TECX stock traded down $1.87 during midday trading on Monday, hitting $34.00. The stock had a trading volume of 726,684 shares, compared to its average volume of 428,722. The business has a 50-day moving average of $21.78 and a two-hundred day moving average of $19.74. The firm has a market cap of $638.42 million, a price-to-earnings ratio of -8.40 and a beta of 3.76. Tectonic Therapeutic, Inc. has a 52-week low of $13.70 and a 52-week 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, topping analysts’ consensus estimates of ($1.11) by $0.08. Research analysts predict that Tectonic Therapeutic, Inc. will post -8.31 earnings per share for the current year.

Institutional Trading of Tectonic Therapeutic

Several institutional investors and hedge funds have recently bought and sold shares of TECX. Aberdeen Group plc purchased a new position in Tectonic Therapeutic during the 3rd quarter worth $5,588,000. Knott David M Jr raised its holdings in shares of Tectonic Therapeutic by 85.0% in the second quarter. Knott David M Jr now owns 74,000 shares of the company’s stock valued at $1,470,000 after buying an additional 34,000 shares during the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Tectonic Therapeutic during the second quarter worth about $52,000. Stempoint Capital LP acquired a new stake in shares of Tectonic Therapeutic during the second quarter worth about $795,000. Finally, DLD Asset Management LP purchased a new position in shares of Tectonic Therapeutic during the third quarter worth about $235,000. Hedge funds and other institutional investors own 62.63% of the company’s stock.

Analysts Set New Price Targets

TECX has been the subject of a number of recent research reports. Lifesci Capital upgraded Tectonic Therapeutic to a “strong-buy” rating in a research note on Thursday, February 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tectonic Therapeutic in a research note on Thursday, January 22nd. Finally, Truist Financial reduced 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 note on Thursday, January 8th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $81.50.

About Tectonic Therapeutic

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.