Tectonic Therapeutic (NASDAQ:TECX) Insider Sells $36,376.94 in Stock

Tectonic Therapeutic, Inc. (NASDAQ:TECX) insider Peter Mcnamara sold 1,649 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $22.06, for a total value of $36,376.94. Following the completion of the transaction, the insider directly owned 37,482 shares of the company’s stock, valued at $826,852.92. This represents a 4.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Wednesday, March 4th, Peter Mcnamara sold 1,650 shares of Tectonic Therapeutic stock. The shares were sold at an average price of $25.00, for a total value of $41,250.00.

Tectonic Therapeutic Stock Up 28.8%

Shares of TECX stock opened at $35.87 on Friday. The stock has a market cap of $673.64 million, a price-to-earnings ratio of -8.86 and a beta of 3.76. The business’s fifty day moving average is $21.78 and its 200 day moving average is $19.77. Tectonic Therapeutic, Inc. has a twelve month low of $13.70 and a twelve month high of $36.03.

Tectonic Therapeutic (NASDAQ:TECX) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($1.03) EPS for the quarter, beating the consensus estimate of ($1.11) by $0.08. Equities research analysts expect that Tectonic Therapeutic, Inc. will post -8.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Tectonic Therapeutic

Several institutional investors and hedge funds have recently modified their holdings of TECX. AlphaQuest LLC raised its position in shares of Tectonic Therapeutic by 919.4% in the 2nd quarter. AlphaQuest LLC now owns 2,365 shares of the company’s stock worth $47,000 after purchasing an additional 2,133 shares during the last quarter. Police & Firemen s Retirement System of New Jersey purchased a new stake in Tectonic Therapeutic during the 2nd quarter valued at about $52,000. China Universal Asset Management Co. Ltd. grew its position in Tectonic Therapeutic by 26.7% during the 2nd 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 during the last quarter. Caitong International Asset Management Co. Ltd increased its stake in Tectonic Therapeutic by 451.6% during the 3rd 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 increased its stake in Tectonic Therapeutic by 18.3% during the 2nd quarter. Virtus Investment Advisers LLC now owns 4,190 shares of the company’s stock valued at $83,000 after purchasing an additional 649 shares in the last quarter. 62.63% of the stock is currently 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.