GSA Capital Partners LLP acquired a new stake in shares of Tectonic Therapeutic, Inc. (NASDAQ:TECX – Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 63,276 shares of the company’s stock, valued at approximately $1,320,000.
Several other hedge funds and other institutional investors have also made changes to their positions in TECX. Raymond James Financial Inc. lifted its holdings in shares of Tectonic Therapeutic by 15.0% in the 2nd quarter. Raymond James Financial Inc. now owns 21,544 shares of the company’s stock valued at $428,000 after acquiring an additional 2,809 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Tectonic Therapeutic by 83.5% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 6,880 shares of the company’s stock valued at $108,000 after acquiring an additional 3,130 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Tectonic Therapeutic by 451.6% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 3,966 shares of the company’s stock valued at $62,000 after acquiring an additional 3,247 shares during the last quarter. AlphaQuest LLC lifted its holdings in shares of Tectonic Therapeutic by 208.6% in the 3rd quarter. AlphaQuest LLC now owns 7,299 shares of the company’s stock valued at $115,000 after acquiring an additional 4,934 shares during the last quarter. Finally, New York State Common Retirement Fund bought a new position in shares of Tectonic Therapeutic in the 2nd quarter valued at about $99,000. Institutional investors own 62.63% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on TECX. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tectonic Therapeutic in a report on Tuesday, April 21st. Lifesci Capital raised shares of Tectonic Therapeutic to a “strong-buy” rating in a report on Thursday, February 5th. Wall Street Zen downgraded shares of Tectonic Therapeutic from a “sell” rating to a “strong sell” rating in a report on Saturday, April 18th. Finally, Stifel Nicolaus began coverage on shares of Tectonic Therapeutic in a report on Monday, April 13th. They issued a “buy” rating and a $75.00 price target for the company. One 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $79.83.
Insider Transactions at Tectonic Therapeutic
In related news, insider Peter Mcnamara sold 6,262 shares of the stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $30.17, for a total value of $188,924.54. Following the sale, the insider directly owned 55,285 shares of the company’s stock, valued at $1,667,948.45. This represents a 10.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Marcella K. Ruddy sold 1,065 shares of the stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $30.00, for a total transaction of $31,950.00. Following the completion of the sale, the insider directly owned 67,682 shares in the company, valued at $2,030,460. This trade represents a 1.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 21,626 shares of company stock worth $629,551 over the last three months. 39.80% of the stock is currently owned by corporate insiders.
Tectonic Therapeutic Price Performance
Tectonic Therapeutic stock opened at $28.84 on Thursday. Tectonic Therapeutic, Inc. has a 1-year low of $14.39 and a 1-year high of $36.03. The firm has a market capitalization of $544.18 million, a P/E ratio of -6.47 and a beta of 3.27. The company’s 50-day moving average is $29.74 and its 200 day moving average is $24.00.
Tectonic Therapeutic (NASDAQ:TECX – Get Free Report) 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). Research analysts anticipate that Tectonic Therapeutic, Inc. will post -5.33 earnings per share for the current fiscal year.
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.
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