Tectonic Therapeutic (NASDAQ:TECX) Insider Marcella Ruddy Sells 1,000 Shares

Tectonic Therapeutic, Inc. (NASDAQ:TECX) insider Marcella Ruddy sold 1,000 shares of Tectonic Therapeutic stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $31.05, for a total value of $31,050.00. Following the sale, the insider owned 68,747 shares in the company, valued at $2,134,594.35. The trade was a 1.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Tectonic Therapeutic Stock Performance

Shares of NASDAQ:TECX remained flat at $30.52 during midday trading on Friday. 163,056 shares of the company were exchanged, compared to its average volume of 310,637. The stock has a market capitalization of $573.17 million, a PE ratio of -7.54 and a beta of 3.59. The stock has a 50-day simple moving average of $26.11 and a 200 day simple moving average of $21.13. Tectonic Therapeutic, Inc. has a 52 week low of $13.70 and a 52 week 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, topping the consensus estimate of ($1.11) by $0.08. On average, equities research analysts forecast that Tectonic Therapeutic, Inc. will post -8.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Tectonic Therapeutic

Several large investors have recently modified their holdings of TECX. China Universal Asset Management Co. Ltd. grew its stake in Tectonic Therapeutic by 26.7% in the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 3,750 shares of the company’s stock valued at $75,000 after buying an additional 791 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Tectonic Therapeutic by 451.6% in the third quarter. Caitong International Asset Management Co. Ltd now owns 3,966 shares of the company’s stock worth $62,000 after buying an additional 3,247 shares in the last quarter. New York State Common Retirement Fund purchased a new position in Tectonic Therapeutic during the second quarter valued at approximately $99,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Tectonic Therapeutic in the 2nd quarter valued at $119,000. Finally, Los Angeles Capital Management LLC bought a new position in Tectonic Therapeutic in the 4th quarter valued at $134,000. Hedge funds and other institutional investors own 62.63% of the company’s stock.

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.