Tectonic Therapeutic, Inc. $TECX Shares Sold by Sectoral Asset Management Inc.

Sectoral Asset Management Inc. reduced its position in Tectonic Therapeutic, Inc. (NASDAQ:TECX) by 78.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,255 shares of the company’s stock after selling 150,515 shares during the quarter. Sectoral Asset Management Inc. owned approximately 0.23% of Tectonic Therapeutic worth $881,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of TECX. Aberdeen Group plc grew its position in shares of Tectonic Therapeutic by 220.6% during the fourth 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 in the last quarter. Braidwell LP acquired a new position in shares of Tectonic Therapeutic during the third quarter worth about $11,561,000. Citadel Advisors LLC grew its position in shares of Tectonic Therapeutic by 80.8% during the third quarter. Citadel Advisors LLC now owns 298,388 shares of the company’s stock worth $4,682,000 after buying an additional 133,342 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Tectonic Therapeutic by 242.5% during the second quarter. Geode Capital Management LLC now owns 272,257 shares of the company’s stock worth $5,411,000 after buying an additional 192,770 shares in the last quarter. Finally, Millennium Management LLC grew its position in shares of Tectonic Therapeutic by 218.0% during the third quarter. Millennium Management LLC now owns 238,170 shares of the company’s stock worth $3,737,000 after buying an additional 163,281 shares in the last quarter. 62.63% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Tectonic Therapeutic news, insider Marcella K. Ruddy sold 1,065 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $30.00, for a total value of $31,950.00. Following the completion of the sale, the insider owned 67,682 shares of the company’s stock, valued at approximately $2,030,460. This trade represents a 1.55% decrease in their ownership of the stock. The transaction was disclosed in a legal 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. Also, insider Peter Mcnamara sold 6,262 shares of the firm’s 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 sale, the insider directly owned 55,285 shares of the company’s stock, valued at approximately $1,667,948.45. This trade represents a 10.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 21,626 shares of company stock valued at $629,551. 39.80% of the stock is owned by corporate insiders.

Tectonic Therapeutic Price Performance

Tectonic Therapeutic stock opened at $29.12 on Monday. Tectonic Therapeutic, Inc. has a 12 month low of $14.39 and a 12 month high of $36.03. The business has a 50 day simple moving average of $29.53 and a 200-day simple moving average of $24.15. The stock has a market capitalization of $549.49 million, a PE ratio of -6.53 and a beta of 3.27.

Tectonic Therapeutic (NASDAQ:TECX) last released its earnings results on Thursday, May 7th. The company reported ($1.34) EPS for the quarter, missing analysts’ consensus estimates of ($1.16) by ($0.18). As a group, equities research analysts anticipate that Tectonic Therapeutic, Inc. will post -5.33 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TECX. Lifesci Capital upgraded Tectonic Therapeutic to a “strong-buy” rating in a research note on Thursday, February 5th. Wall Street Zen cut Tectonic Therapeutic from a “sell” rating to a “strong sell” rating in a research note on Saturday, April 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Tectonic Therapeutic in a research report on Tuesday, April 21st. Finally, Stifel Nicolaus initiated coverage on shares of Tectonic Therapeutic in a research report on Monday, April 13th. They issued a “buy” rating and a $75.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Tectonic Therapeutic presently has an average rating of “Moderate Buy” and a consensus price target of $79.83.

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.