Tectonic Therapeutic (NASDAQ:TECX) Insider Sells 536 Shares of Company Stock

Tectonic Therapeutic, Inc. (NASDAQ:TECX) insider Peter Mcnamara sold 536 shares of the business’s stock in a transaction that occurred on Wednesday, September 30th. The stock was sold at an average price of $23.04, for a total value of $12,349.44. Following the sale, the insider owned 54,305 shares of the company’s stock, valued at approximately $1,251,187.20. This represents a 0.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Tuesday, August 25th, Peter Mcnamara sold 43 shares of Tectonic Therapeutic stock. The shares were sold at an average price of $36.52, for a total value of $1,570.36.
• On Wednesday, August 12th, Peter Mcnamara sold 43 shares of Tectonic Therapeutic stock. The stock was sold at an average price of $35.00, for a total value of $1,505.00.

Tectonic Therapeutic Stock Performance

NASDAQ:TECX traded down $0.13 during mid-day trading on Friday, hitting $22.54. 253,429 shares of the stock were exchanged, compared to its average volume of 264,623. The stock has a market capitalization of $440.66 million, a price-to-earnings ratio of -4.93 and a beta of 3.29. The firm’s 50-day simple moving average is $30.36 and its 200 day simple moving average is $30.40. Tectonic Therapeutic, Inc. has a fifty-two week low of $14.60 and a fifty-two week high of $39.53.

Tectonic Therapeutic (NASDAQ:TECX) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($1.18) EPS for the quarter, beating analysts’ consensus estimates of ($1.35) by $0.17. On average, analysts predict that Tectonic Therapeutic, Inc. will post -5.27 EPS for the current fiscal year.

Institutional Trading of Tectonic Therapeutic

Several large investors have recently made changes to their positions in TECX. BlackRock Inc. acquired a new position in shares of Tectonic Therapeutic during the 2nd quarter worth $29,652,000. Baker BROS. Advisors LP lifted its position in shares of Tectonic Therapeutic by 803.4% during the 4th quarter. Baker BROS. Advisors LP now owns 903,400 shares of the company’s stock worth $18,845,000 after buying an additional 803,400 shares during the last quarter. First Light Asset Management LLC acquired a new stake in Tectonic Therapeutic in the first quarter valued at about $20,022,000. 5AM Venture Management LLC acquired a new stake in Tectonic Therapeutic in the second quarter valued at about $20,853,938. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Tectonic Therapeutic in the second quarter valued at about $2,232,000. Institutional investors and hedge funds own 62.63% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on TECX. Oppenheimer reaffirmed an “outperform” rating and set a $80.00 price target on shares of Tectonic Therapeutic in a research report on Wednesday. Wells Fargo & Company cut their price objective on shares of Tectonic Therapeutic from $101.00 to $93.00 and set an “overweight” rating for the company in a report on Friday, August 7th. TD Cowen restated a “buy” rating on shares of Tectonic Therapeutic in a research report on Wednesday. Wall Street Zen cut shares of Tectonic Therapeutic from a “sell” rating to a “strong sell” rating in a report on Saturday, September 19th. Finally, Zacks Research upgraded shares of Tectonic Therapeutic from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 18th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $77.80.

Tectonic Therapeutic Company Profile

Tectonic Therapeutic, Inc is a clinical-stage biotechnology company focused on developing biologic medicines that target G protein-coupled receptors (GPCRs). These receptors play important roles in many physiological processes but have historically been difficult to address with conventional antibody-based therapies.

The company uses its proprietary GEODe platform to discover and develop antibodies and other biologics designed to modulate GPCR activity. Tectonic’s pipeline includes TX45, an investigational therapeutic intended to activate the relaxin receptor RXFP1.