Tectonic Therapeutic (NASDAQ:TECX) Director Timothy A. Springer Acquires 129,294 Shares

Tectonic Therapeutic (NASDAQ:TECX) Director Timothy A. Springer acquired 129,294 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were purchased at an average cost of $54.14 per share, with a total value of $6,999,977.16. Following the completion of the transaction, the director now owns 4,226,058 shares in the company, valued at approximately $228,798,780.12. The trade was a 3.16 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Tectonic Therapeutic Price Performance

NASDAQ TECX opened at $36.45 on Friday. The company has a fifty day moving average of $45.25 and a two-hundred day moving average of $34.39. Tectonic Therapeutic has a 1 year low of $13.80 and a 1 year high of $61.07. The company has a market capitalization of $537.64 million, a PE ratio of -6.19 and a beta of 2.62.

Tectonic Therapeutic (NASDAQ:TECX) last released its quarterly earnings results on Thursday, November 7th. The company reported ($1.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.36). On average, research analysts expect that Tectonic Therapeutic will post -8.31 earnings per share for the current year.

Institutional Investors Weigh In On Tectonic Therapeutic

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TECX. Nordwand Advisors LLC acquired a new position in shares of Tectonic Therapeutic in the 3rd quarter valued at $45,000. China Universal Asset Management Co. Ltd. purchased a new position in Tectonic Therapeutic during the 4th quarter worth $144,000. Charles Schwab Investment Management Inc. acquired a new position in Tectonic Therapeutic in the fourth quarter valued at $218,000. Raymond James Financial Inc. purchased a new stake in shares of Tectonic Therapeutic in the fourth quarter valued at about $228,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Tectonic Therapeutic during the third quarter worth about $233,000. Hedge funds and other institutional investors own 62.63% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on TECX shares. Raymond James began coverage on Tectonic Therapeutic in a research note on Wednesday, November 20th. They issued an “outperform” rating and a $65.00 price target on the stock. Wells Fargo & Company raised their target price on Tectonic Therapeutic from $79.00 to $112.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, Leerink Partners upped their price target on Tectonic Therapeutic from $49.00 to $69.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $80.50.

About Tectonic Therapeutic

Avrobio, Inc is a bio-technology company. It develops step-change cell and gene therapies for the treatment of cancer and rare disease. The company operates primarily in the United States and Canada. Avrobio, Inc is based in MA, United States.