Daniel Lochner Purchases 6,000 Shares of Tectonic Therapeutic (NASDAQ:TECX) Stock

Tectonic Therapeutic, Inc. (NASDAQ:TECX) CFO Daniel Lochner acquired 6,000 shares of the company’s stock in a transaction dated Tuesday, February 10th. The shares were bought at an average cost of $21.61 per share, with a total value of $129,660.00. Following the purchase, the chief financial officer owned 32,044 shares of the company’s stock, valued at approximately $692,470.84. This trade represents a 23.04% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Tectonic Therapeutic Stock Up 3.2%

Shares of NASDAQ TECX opened at $22.71 on Friday. Tectonic Therapeutic, Inc. has a 52 week low of $13.70 and a 52 week high of $36.11. The firm’s fifty day moving average is $20.55 and its 200 day moving average is $19.66. The company has a market cap of $425.13 million, a price-to-earnings ratio of -5.88 and a beta of 3.71.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Lifesci Capital upgraded shares of Tectonic Therapeutic to a “strong-buy” rating in a report on Thursday, February 5th. Truist Financial lowered their price target on Tectonic Therapeutic from $64.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. Wells Fargo & Company assumed coverage on Tectonic Therapeutic in a research report on Monday, October 20th. They issued an “overweight” rating and a $101.00 price objective on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Tectonic Therapeutic in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Tectonic Therapeutic presently has an average rating of “Moderate Buy” and an average price target of $81.50.

Hedge Funds Weigh In On Tectonic Therapeutic

Institutional investors have recently bought and sold shares of the stock. AlphaQuest LLC lifted its holdings in Tectonic Therapeutic by 919.4% in the second quarter. AlphaQuest LLC now owns 2,365 shares of the company’s stock worth $47,000 after buying an additional 2,133 shares during the period. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Tectonic Therapeutic in the 2nd quarter valued at approximately $52,000. China Universal Asset Management Co. Ltd. boosted its position in shares of Tectonic Therapeutic by 26.7% during the second quarter. China Universal Asset Management Co. Ltd. now owns 3,750 shares of the company’s stock valued at $75,000 after purchasing an additional 791 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its position in shares of Tectonic Therapeutic by 451.6% during the third quarter. Caitong International Asset Management Co. Ltd now owns 3,966 shares of the company’s stock valued at $62,000 after purchasing an additional 3,247 shares in the last quarter. Finally, Virtus Investment Advisers LLC grew its stake in Tectonic Therapeutic by 18.3% in the second quarter. Virtus Investment Advisers LLC now owns 4,190 shares of the company’s stock worth $83,000 after purchasing an additional 649 shares during the period. 62.63% of the stock is owned by institutional investors.

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.