Tectonic Therapeutic (NASDAQ:TECX) Insider Sells $188,924.54 in Stock

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

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

• On Wednesday, March 4th, Peter Mcnamara sold 1,650 shares of Tectonic Therapeutic stock. The shares were sold at an average price of $25.00, for a total value of $41,250.00.
• On Tuesday, March 3rd, Peter Mcnamara sold 1,649 shares of Tectonic Therapeutic stock. The stock was sold at an average price of $22.06, for a total value of $36,376.94.

Tectonic Therapeutic Stock Up 4.7%

Shares of TECX opened at $34.79 on Thursday. The stock has a market cap of $653.25 million, a PE ratio of -8.59 and a beta of 3.76. Tectonic Therapeutic, Inc. has a 12-month low of $13.70 and a 12-month high of $36.03. The business has a 50-day simple moving average of $22.57 and a two-hundred day simple moving average of $19.96.

Tectonic Therapeutic (NASDAQ:TECX) last announced its quarterly earnings results on Thursday, February 26th. The company reported ($1.03) EPS for the quarter, beating analysts’ consensus estimates of ($1.11) by $0.08. On average, equities research analysts expect that Tectonic Therapeutic, Inc. will post -8.31 EPS for the current year.

Institutional Investors Weigh In On Tectonic Therapeutic

Hedge funds have recently added to or reduced their stakes in the business. Baker BROS. Advisors LP lifted its stake in Tectonic Therapeutic by 803.4% in the fourth quarter. Baker BROS. Advisors LP now owns 903,400 shares of the company’s stock valued at $18,845,000 after buying an additional 803,400 shares during the period. Aberdeen Group plc grew its position in shares of Tectonic Therapeutic by 220.6% during the 4th quarter. Aberdeen Group plc now owns 1,141,824 shares of the company’s stock worth $23,818,000 after buying an additional 785,648 shares during the period. Braidwell LP acquired a new stake in shares of Tectonic Therapeutic during the 3rd quarter worth approximately $11,561,000. Orbimed Advisors LLC bought a new stake in shares of Tectonic Therapeutic in the 4th quarter valued at $11,986,000. Finally, Vestal Point Capital LP bought a new stake in shares of Tectonic Therapeutic in the 4th quarter valued at $6,842,000. 62.63% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on TECX. Lifesci Capital raised shares of Tectonic Therapeutic to a “strong-buy” rating in a report on Thursday, February 5th. Truist Financial dropped their price target on shares of Tectonic Therapeutic from $64.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, January 8th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Tectonic Therapeutic in a report on Thursday, January 22nd. 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $81.50.

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.