Peter Mcnamara Sells 6,262 Shares of Tectonic Therapeutic (NASDAQ:TECX) Stock

Tectonic Therapeutic, Inc. (NASDAQ:TECX) insider Peter Mcnamara sold 6,262 shares of the stock in a transaction on Friday, March 6th. The stock was sold at an average price of $30.17, for a total value of $188,924.54. Following the completion of the sale, the insider directly owned 55,285 shares in the company, valued at approximately $1,667,948.45. This represents a 10.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Wednesday, March 4th, Peter Mcnamara sold 1,650 shares of Tectonic Therapeutic stock. The stock was sold at an average price of $25.00, for a total transaction of $41,250.00.
• 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 Stock Performance

Shares of TECX stock traded down $1.87 during mid-day trading on Monday, hitting $34.00. The company’s stock had a trading volume of 726,684 shares, compared to its average volume of 428,722. The stock 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. The business has a 50-day moving average price of $21.78 and a 200 day moving average price of $19.74.

Tectonic Therapeutic (NASDAQ:TECX) last issued 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. Equities research analysts predict that Tectonic Therapeutic, Inc. will post -8.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Tectonic Therapeutic

Several large investors have recently modified their holdings of the stock. Police & Firemen s Retirement System of New Jersey purchased a new stake in Tectonic Therapeutic during the 2nd quarter valued at $52,000. China Universal Asset Management Co. Ltd. boosted its stake in 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 worth $75,000 after buying an additional 791 shares during the period. Caitong International Asset Management Co. Ltd raised its stake in shares of Tectonic Therapeutic by 451.6% in the third quarter. Caitong International Asset Management Co. Ltd now owns 3,966 shares of the company’s stock valued at $62,000 after acquiring an additional 3,247 shares during the period. Virtus Investment Advisers LLC raised its stake in shares of Tectonic Therapeutic by 18.3% in the second quarter. Virtus Investment Advisers LLC now owns 4,190 shares of the company’s stock valued at $83,000 after acquiring an additional 649 shares during the period. Finally, New York State Common Retirement Fund bought a new stake in shares of Tectonic Therapeutic in the 2nd quarter worth about $99,000. Institutional investors own 62.63% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on TECX. Truist Financial decreased their price target on Tectonic Therapeutic from $64.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, January 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tectonic Therapeutic in a research note on Thursday, January 22nd. Finally, Lifesci Capital upgraded Tectonic Therapeutic to a “strong-buy” rating in a report on Thursday, February 5th. 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 company’s stock. According to data from MarketBeat.com, Tectonic Therapeutic presently has an average rating of “Moderate Buy” and a consensus price target 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.