Marcella Ruddy Sells 1,000 Shares of Tectonic Therapeutic (NASDAQ:TECX) Stock

Tectonic Therapeutic, Inc. (NASDAQ:TECX) insider Marcella Ruddy sold 1,000 shares of the business’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $31.05, for a total value of $31,050.00. Following the transaction, the insider directly owned 68,747 shares of the company’s stock, valued at $2,134,594.35. The trade was a 1.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Tectonic Therapeutic Price Performance

TECX stock remained flat at $30.52 during midday trading on Friday. 163,056 shares of the company’s stock were exchanged, compared to its average volume of 310,637. The company’s 50-day moving average is $26.11 and its 200-day moving average is $21.13. The company has a market cap of $573.17 million, a P/E ratio of -7.54 and a beta of 3.59. Tectonic Therapeutic, Inc. has a fifty-two week low of $13.70 and a fifty-two week high of $36.03.

Tectonic Therapeutic (NASDAQ:TECX) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($1.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.11) by $0.08. As a group, analysts anticipate that Tectonic Therapeutic, Inc. will post -8.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd lifted its holdings in Tectonic Therapeutic by 451.6% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 3,966 shares of the company’s stock worth $62,000 after buying an additional 3,247 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in shares of Tectonic Therapeutic by 26.7% during the second quarter. China Universal Asset Management Co. Ltd. now owns 3,750 shares of the company’s stock valued at $75,000 after buying an additional 791 shares during the period. New York State Common Retirement Fund bought a new position in shares of Tectonic Therapeutic during the second quarter valued at approximately $99,000. AlphaQuest LLC raised its holdings in shares of Tectonic Therapeutic by 208.6% during the third quarter. AlphaQuest LLC now owns 7,299 shares of the company’s stock valued at $115,000 after acquiring an additional 4,934 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Tectonic Therapeutic in the second quarter worth $119,000. Institutional investors own 62.63% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on TECX shares. Lifesci Capital upgraded Tectonic Therapeutic to a “strong-buy” rating in a report on Thursday, February 5th. Truist Financial decreased their target price on shares of Tectonic Therapeutic from $64.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, January 8th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Tectonic Therapeutic in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Tectonic Therapeutic presently has an average rating of “Moderate Buy” and an average target price of $81.50.

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.