Tectonic Therapeutic (NASDAQ:TECX) Insider Peter Mcnamara Sells 536 Shares of Stock

Tectonic Therapeutic, Inc. (NASDAQ:TECX) insider Peter Mcnamara sold 536 shares of Tectonic Therapeutic stock in a transaction that occurred on Wednesday, September 30th. The shares were sold at an average price of $23.04, for a total transaction of $12,349.44. Following the sale, the insider directly owned 54,305 shares in the company, valued at $1,251,187.20. This trade represents a 0.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Tuesday, August 25th, Peter Mcnamara sold 43 shares of Tectonic Therapeutic stock. The stock was sold at an average price of $36.52, for a total transaction of $1,570.36.
• On Wednesday, August 12th, Peter Mcnamara sold 43 shares of Tectonic Therapeutic stock. The stock was sold at an average price of $35.00, for a total transaction of $1,505.00.

Tectonic Therapeutic Trading Down 0.6%

NASDAQ:TECX traded down $0.13 on Friday, hitting $22.54. The company had a trading volume of 253,429 shares, compared to its average volume of 264,623. The stock has a market capitalization of $440.66 million, a price-to-earnings ratio of -4.93 and a beta of 3.29. The firm has a 50 day moving average of $30.36 and a two-hundred day moving average of $30.40. Tectonic Therapeutic, Inc. has a 52 week low of $14.60 and a 52 week high of $39.53.

Tectonic Therapeutic (NASDAQ:TECX) last issued its earnings results on Thursday, August 6th. The company reported ($1.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.35) by $0.17. As a group, equities analysts forecast that Tectonic Therapeutic, Inc. will post -5.27 EPS for the current year.

Hedge Funds Weigh In On Tectonic Therapeutic

A number of hedge funds have recently modified their holdings of TECX. Legal & General Group Plc acquired a new stake in Tectonic Therapeutic in the second quarter valued at $34,000. Quantbot Technologies LP acquired a new position in Tectonic Therapeutic during the 2nd quarter worth about $63,000. Velan Capital Investment Management LP acquired a new position in Tectonic Therapeutic during the 2nd quarter worth about $206,000. The Manufacturers Life Insurance Company acquired a new position in Tectonic Therapeutic during the 2nd quarter worth about $206,000. Finally, AlphaCentric Advisors LLC grew its position in shares of Tectonic Therapeutic by 5.8% in the 1st quarter. AlphaCentric Advisors LLC now owns 6,849 shares of the company’s stock valued at $212,000 after buying an additional 373 shares during the last quarter. Institutional investors and hedge funds own 62.63% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on TECX shares. Wall Street Zen downgraded Tectonic Therapeutic from a “sell” rating to a “strong sell” rating in a report on Saturday, September 19th. TD Cowen reaffirmed a “buy” rating on shares of Tectonic Therapeutic in a report on Wednesday. Zacks Research upgraded Tectonic Therapeutic from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 18th. Wells Fargo & Company cut their price target on Tectonic Therapeutic from $101.00 to $93.00 and set an “overweight” rating on the stock in a research note on Friday, August 7th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Tectonic Therapeutic in a report on Friday, July 17th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $77.80.

About Tectonic Therapeutic

Tectonic Therapeutic, Inc is a clinical-stage biotechnology company focused on developing biologic medicines that target G protein-coupled receptors (GPCRs). These receptors play important roles in many physiological processes but have historically been difficult to address with conventional antibody-based therapies.

The company uses its proprietary GEODe platform to discover and develop antibodies and other biologics designed to modulate GPCR activity. Tectonic’s pipeline includes TX45, an investigational therapeutic intended to activate the relaxin receptor RXFP1.