Tectonic Therapeutic, Inc. $TECX Stake Raised by Baker BROS. Advisors LP

Baker BROS. Advisors LP grew its holdings in shares of Tectonic Therapeutic, Inc. (NASDAQ:TECX) by 803.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 903,400 shares of the company’s stock after buying an additional 803,400 shares during the period. Baker BROS. Advisors LP owned 4.83% of Tectonic Therapeutic worth $18,845,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Monimus Capital Management LP raised its holdings in Tectonic Therapeutic by 11.3% during the fourth quarter. Monimus Capital Management LP now owns 26,594 shares of the company’s stock worth $555,000 after purchasing an additional 2,700 shares in the last quarter. Raymond James Financial Inc. raised its holdings in Tectonic Therapeutic by 15.0% during the second quarter. Raymond James Financial Inc. now owns 21,544 shares of the company’s stock worth $428,000 after purchasing an additional 2,809 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in Tectonic Therapeutic by 83.5% during the third quarter. China Universal Asset Management Co. Ltd. now owns 6,880 shares of the company’s stock worth $108,000 after purchasing an additional 3,130 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in Tectonic Therapeutic by 451.6% during the third quarter. Caitong International Asset Management Co. Ltd now owns 3,966 shares of the company’s stock worth $62,000 after purchasing an additional 3,247 shares in the last quarter. Finally, Barclays PLC raised its holdings in Tectonic Therapeutic by 24.8% during the fourth quarter. Barclays PLC now owns 22,443 shares of the company’s stock worth $468,000 after purchasing an additional 4,467 shares in the last quarter. Institutional investors own 62.63% of the company’s stock.

Insider Transactions at Tectonic Therapeutic

In other Tectonic Therapeutic news, insider Marcella K. Ruddy sold 1,065 shares of Tectonic Therapeutic stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $30.00, for a total transaction of $31,950.00. Following the transaction, the insider directly owned 67,682 shares in the company, valued at approximately $2,030,460. The trade was a 1.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 39.80% of the company’s stock.

Tectonic Therapeutic Stock Performance

Tectonic Therapeutic stock opened at $30.06 on Thursday. The firm has a market cap of $567.23 million, a price-to-earnings ratio of -6.74 and a beta of 3.19. Tectonic Therapeutic, Inc. has a 1 year low of $14.39 and a 1 year high of $36.03. The firm’s 50 day moving average price is $28.97 and its two-hundred day moving average price is $25.47.

Tectonic Therapeutic (NASDAQ:TECX) last posted its quarterly earnings results 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, equities analysts predict that Tectonic Therapeutic, Inc. will post -5.46 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Tectonic Therapeutic 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.