Tectonic Therapeutic (NASDAQ:TECX) Stock Price Down 5.8% – Time to Sell?

Tectonic Therapeutic, Inc. (NASDAQ:TECX)’s share price dropped 5.8% on Monday . The stock traded as low as $35.79 and last traded at $35.73. 136,417 shares changed hands during trading, a decline of 52% from the average session volume of 285,415 shares. The stock had previously closed at $37.93.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TECX. Stifel Nicolaus assumed coverage on shares of Tectonic Therapeutic in a research report on Monday, April 13th. They set a “buy” rating and a $75.00 price target for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Tectonic Therapeutic in a report on Tuesday, April 21st. Raymond James Financial raised Tectonic Therapeutic from an “outperform” rating to a “strong-buy” rating and boosted their price target for the stock from $76.00 to $81.00 in a research report on Tuesday, May 26th. Finally, Wall Street Zen cut Tectonic Therapeutic from a “sell” rating to a “strong sell” rating in a research note on Saturday, April 18th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Tectonic Therapeutic presently has an average rating of “Buy” and an average price target of $79.40.

Tectonic Therapeutic Trading Down 5.2%

The firm has a market capitalization of $678.47 million, a P/E ratio of -8.08 and a beta of 3.21. The stock has a 50-day simple moving average of $29.69 and a two-hundred day simple moving average of $26.54.

Tectonic Therapeutic (NASDAQ:TECX) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($1.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.16) by ($0.18). As a group, research analysts expect that Tectonic Therapeutic, Inc. will post -5.46 EPS for the current year.

Insider Transactions at Tectonic Therapeutic

In other Tectonic Therapeutic news, insider Marcella K. Ruddy sold 1,065 shares of the company’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $30.00, for a total transaction of $31,950.00. Following the transaction, the insider owned 67,682 shares of the company’s stock, valued at approximately $2,030,460. This represents a 1.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 39.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Aberdeen Group plc raised its holdings in shares of Tectonic Therapeutic by 220.6% in the fourth quarter. Aberdeen Group plc now owns 1,141,824 shares of the company’s stock valued at $23,818,000 after buying an additional 785,648 shares during the last quarter. Braidwell LP boosted its position in shares of Tectonic Therapeutic by 25.9% during the 4th quarter. Braidwell LP now owns 927,524 shares of the company’s stock valued at $19,348,000 after acquiring an additional 190,657 shares during the last quarter. Baker BROS. Advisors LP grew its holdings in Tectonic Therapeutic by 803.4% during the fourth quarter. Baker BROS. Advisors LP now owns 903,400 shares of the company’s stock worth $18,845,000 after acquiring an additional 803,400 shares during the period. First Light Asset Management LLC bought a new position in Tectonic Therapeutic during the 1st quarter valued at $20,022,000. Finally, 5AM Venture Management LLC grew its position in Tectonic Therapeutic by 18.6% in the fourth quarter. 5AM Venture Management LLC now owns 606,660 shares of the company’s stock worth $12,655,000 after acquiring an additional 95,000 shares in the last quarter. 62.63% of the stock is currently owned by institutional investors and hedge funds.

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.