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 the business’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $25.00, for a total transaction of $41,250.00. Following the completion of the transaction, the insider owned 58,832 shares of the company’s stock, valued at $1,470,800. This trade represents a 2.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 Stock Performance

NASDAQ TECX opened at $35.87 on Friday. The stock has a market capitalization of $673.64 million, a P/E ratio of -8.86 and a beta of 3.76. Tectonic Therapeutic, Inc. has a 52 week low of $13.70 and a 52 week high of $36.03. The stock has a fifty day moving average of $21.78 and a 200-day moving average of $19.80.

Tectonic Therapeutic (NASDAQ:TECX) last issued its quarterly earnings results on Thursday, February 26th. The company reported ($1.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.11) by $0.08. Equities research analysts forecast that Tectonic Therapeutic, Inc. will post -8.31 earnings per share for the current fiscal 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. Aberdeen Group plc acquired a new position in shares of Tectonic Therapeutic during the 3rd quarter worth about $5,588,000. Knott David M Jr increased its stake in shares of Tectonic Therapeutic by 85.0% in the 2nd quarter. Knott David M Jr now owns 74,000 shares of the company’s stock valued at $1,470,000 after acquiring an additional 34,000 shares during the last quarter. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Tectonic Therapeutic in the 2nd quarter valued at about $52,000. Stempoint Capital LP acquired a new stake in shares of Tectonic Therapeutic in the 2nd quarter valued at approximately $795,000. Finally, Monaco Asset Management SAM acquired a new stake in shares of Tectonic Therapeutic in the 2nd quarter valued at approximately $209,000. Institutional investors own 62.63% of the company’s stock.

Wall Street Analyst Weigh In

TECX has been the topic of a number of research reports. Truist Financial cut their target price on shares of Tectonic Therapeutic from $64.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, January 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Tectonic Therapeutic in a research note on Thursday, January 22nd. Finally, Lifesci Capital upgraded shares of Tectonic Therapeutic to a “strong-buy” rating in a report on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.50.

Tectonic Therapeutic Company Profile

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.