Insider Selling: Tectonic Therapeutic (NASDAQ:TECX) Insider Sells $31,950.00 in Stock

Tectonic Therapeutic, Inc. (NASDAQ:TECX) insider Marcella Ruddy sold 1,065 shares of the business’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $30.00, for a total value of $31,950.00. Following the completion of the transaction, the insider directly owned 67,682 shares of the company’s stock, valued at approximately $2,030,460. The trade was a 1.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Tectonic Therapeutic Trading Up 7.9%

NASDAQ:TECX opened at $29.00 on Friday. Tectonic Therapeutic, Inc. has a 1 year low of $14.39 and a 1 year high of $36.03. The stock has a market cap of $546.59 million, a price-to-earnings ratio of -6.50 and a beta of 3.27. The stock has a 50-day moving average price of $29.51 and a two-hundred day moving average price of $23.35.

Tectonic Therapeutic (NASDAQ:TECX) last posted its earnings results on Thursday, May 7th. The company reported ($1.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.16) by ($0.18). Sell-side analysts forecast that Tectonic Therapeutic, Inc. will post -4.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on TECX shares. 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 note on Tuesday, April 21st. Lifesci Capital raised Tectonic Therapeutic to a “strong-buy” rating in a research note on Thursday, February 5th. Finally, 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 for the company. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $80.57.

Hedge Funds Weigh In On Tectonic Therapeutic

A number of large investors have recently added to or reduced their stakes in the company. Aberdeen Group plc increased its holdings in 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 purchasing an additional 785,648 shares in the last quarter. Braidwell LP increased its holdings in Tectonic Therapeutic by 25.9% during the 4th quarter. Braidwell LP now owns 927,524 shares of the company’s stock worth $19,348,000 after purchasing an additional 190,657 shares in the last quarter. Baker BROS. Advisors LP increased its holdings in Tectonic Therapeutic by 803.4% during the 4th quarter. Baker BROS. Advisors LP now owns 903,400 shares of the company’s stock worth $18,845,000 after purchasing an additional 803,400 shares in the last quarter. 5AM Venture Management LLC increased its holdings in Tectonic Therapeutic by 18.6% during the 4th quarter. 5AM Venture Management LLC now owns 606,660 shares of the company’s stock worth $12,655,000 after purchasing an additional 95,000 shares in the last quarter. Finally, Orbimed Advisors LLC bought a new position in Tectonic Therapeutic during the 4th quarter worth about $11,986,000. 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.