Tectonic Therapeutic (NASDAQ:TECX) Shares Purchased by Barclays PLC

Barclays PLC boosted its position in shares of Tectonic Therapeutic (NASDAQ:TECX) by 1,008.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,974 shares of the company’s stock after buying an additional 14,533 shares during the period. Barclays PLC owned 0.11% of Tectonic Therapeutic worth $737,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in shares of Tectonic Therapeutic by 5,554.5% in the 4th quarter. JPMorgan Chase & Co. now owns 1,244 shares of the company’s stock valued at $57,000 after acquiring an additional 1,222 shares during the period. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Tectonic Therapeutic in the fourth quarter valued at about $144,000. Charles Schwab Investment Management Inc. acquired a new stake in shares of Tectonic Therapeutic during the fourth quarter worth about $218,000. Raymond James Financial Inc. purchased a new position in shares of Tectonic Therapeutic during the fourth quarter worth about $228,000. Finally, Commonwealth Equity Services LLC acquired a new position in Tectonic Therapeutic in the 4th quarter valued at about $231,000. Hedge funds and other institutional investors own 62.63% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on TECX. Wells Fargo & Company lowered their target price on Tectonic Therapeutic from $112.00 to $101.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. Mizuho assumed coverage on shares of Tectonic Therapeutic in a research report on Monday, April 21st. They issued an “outperform” rating and a $51.00 price objective on the stock. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $72.40.

Tectonic Therapeutic Trading Down 11.5 %

NASDAQ TECX opened at $18.92 on Wednesday. The business’s 50 day moving average is $19.93 and its two-hundred day moving average is $34.60. The stock has a market capitalization of $353.26 million, a price-to-earnings ratio of -3.21 and a beta of 3.44. Tectonic Therapeutic has a 12-month low of $13.70 and a 12-month high of $61.07.

Tectonic Therapeutic (NASDAQ:TECX) last released its quarterly earnings data on Thursday, March 20th. The company reported ($0.84) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.39) by $0.55. Equities analysts forecast that Tectonic Therapeutic will post -8.31 earnings per share for the current fiscal year.

Insider Activity at Tectonic Therapeutic

In other news, Director Timothy A. Springer bought 3,718 shares of the firm’s stock in a transaction on Wednesday, April 9th. The shares were bought at an average cost of $14.76 per share, for a total transaction of $54,877.68. Following the completion of the transaction, the director now owns 4,317,276 shares in the company, valued at $63,722,993.76. This trade represents a 0.09 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders purchased 100,696 shares of company stock worth $1,705,714 over the last 90 days. Company insiders own 9.20% of the company’s stock.

Tectonic Therapeutic 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.