Peter Mcnamara Sells 1,650 Shares of Tectonic Therapeutic (NASDAQ:TECX) Stock

Tectonic Therapeutic, Inc. (NASDAQ:TECX) insider Peter Mcnamara sold 1,650 shares of Tectonic Therapeutic stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $25.00, for a total value of $41,250.00. Following the sale, the insider directly owned 58,832 shares of the company’s stock, valued at approximately $1,470,800. This represents a 2.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• 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 Trading Up 1.6%

Shares of TECX stock traded up $0.44 during mid-day trading on Thursday, reaching $27.85. The stock had a trading volume of 471,882 shares, compared to its average volume of 405,128. Tectonic Therapeutic, Inc. has a 1-year low of $13.70 and a 1-year high of $28.98. The firm has a market cap of $523.02 million, a price-to-earnings ratio of -6.88 and a beta of 3.76. The business’s fifty day moving average is $21.36 and its 200-day moving average is $19.66.

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on TECX shares. Truist Financial reduced their target price on shares of Tectonic Therapeutic from $64.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, January 8th. Lifesci Capital raised Tectonic Therapeutic to a “strong-buy” rating in a research report on Thursday, February 5th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Tectonic Therapeutic in a research note on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $81.50.

Hedge Funds Weigh In On Tectonic Therapeutic

Several institutional investors and hedge funds have recently modified their holdings of the business. Baker BROS. Advisors LP grew its holdings 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 purchasing an additional 803,400 shares during the period. Aberdeen Group plc raised its stake 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 purchased a new position in shares of Tectonic Therapeutic during the 3rd quarter valued at approximately $11,561,000. Orbimed Advisors LLC acquired a new stake in Tectonic Therapeutic in the 4th quarter valued at $11,986,000. Finally, Vestal Point Capital LP purchased a new stake in Tectonic Therapeutic in the 4th quarter worth $6,842,000. Hedge funds and other institutional investors own 62.63% of the company’s stock.

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.