30,000 Shares in Tectonic Therapeutic, Inc. $TECX Purchased by BIT Capital GmbH

BIT Capital GmbH acquired a new position in shares of Tectonic Therapeutic, Inc. (NASDAQ:TECX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 30,000 shares of the company’s stock, valued at approximately $626,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Clearstead Advisors LLC raised its position in Tectonic Therapeutic by 333.3% during the fourth quarter. Clearstead Advisors LLC now owns 6,500 shares of the company’s stock worth $136,000 after acquiring an additional 5,000 shares during the last quarter. GSA Capital Partners LLP acquired a new position in Tectonic Therapeutic during the fourth quarter worth about $1,320,000. Palumbo Wealth Management LLC acquired a new position in Tectonic Therapeutic during the fourth quarter worth about $272,000. Aberdeen Group plc raised its position in Tectonic Therapeutic by 220.6% during the fourth quarter. Aberdeen Group plc now owns 1,141,824 shares of the company’s stock worth $23,818,000 after acquiring an additional 785,648 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its position in 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 worth $62,000 after acquiring an additional 3,247 shares during the last quarter. Hedge funds and other institutional investors own 62.63% of the company’s stock.

Tectonic Therapeutic Trading Down 0.4%

NASDAQ:TECX opened at $29.00 on Friday. The firm has a market cap of $547.23 million, a price-to-earnings ratio of -6.50 and a beta of 3.19. The company’s 50-day moving average is $29.11 and its two-hundred day moving average is $24.89. Tectonic Therapeutic, Inc. has a 12-month low of $14.39 and a 12-month high of $36.03.

Tectonic Therapeutic (NASDAQ:TECX) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($1.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.16) by ($0.18). On average, equities research analysts forecast that Tectonic Therapeutic, Inc. will post -5.46 earnings per share for the current fiscal year.

Analyst Ratings Changes

TECX has been the subject of a number of research reports. Stifel Nicolaus initiated coverage on shares of Tectonic Therapeutic in a research report on Monday, April 13th. They set a “buy” rating and a $75.00 target price for the company. Raymond James Financial upgraded shares of Tectonic Therapeutic from an “outperform” rating to a “strong-buy” rating and lifted their target price for the stock from $76.00 to $81.00 in a research report on Tuesday, May 26th. Wall Street Zen cut shares of Tectonic Therapeutic from a “sell” rating to a “strong sell” rating in a research report on Saturday, April 18th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Tectonic Therapeutic in a research report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $79.40.

Insider Buying and Selling at Tectonic Therapeutic

In other news, insider Marcella K. Ruddy sold 1,065 shares of the business’s stock in a transaction that occurred on 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 owned 67,682 shares of the company’s stock, valued at $2,030,460. The trade was a 1.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 39.80% of the stock is currently owned by corporate insiders.

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.