Aberdeen Group plc Takes $5.59 Million Position in Tectonic Therapeutic, Inc. $TECX

Aberdeen Group plc bought a new position in Tectonic Therapeutic, Inc. (NASDAQ:TECX) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 356,176 shares of the company’s stock, valued at approximately $5,588,000. Aberdeen Group plc owned about 1.90% of Tectonic Therapeutic as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. AlphaQuest LLC lifted its holdings in Tectonic Therapeutic by 919.4% in the second quarter. AlphaQuest LLC now owns 2,365 shares of the company’s stock valued at $47,000 after acquiring an additional 2,133 shares during the period. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Tectonic Therapeutic during the 2nd quarter valued at approximately $52,000. China Universal Asset Management Co. Ltd. increased its holdings in shares of Tectonic Therapeutic by 26.7% during the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 3,750 shares of the company’s stock valued at $75,000 after purchasing an additional 791 shares in the last quarter. Virtus Investment Advisers LLC lifted its stake in shares of Tectonic Therapeutic by 18.3% in the 2nd quarter. Virtus Investment Advisers LLC now owns 4,190 shares of the company’s stock valued at $83,000 after purchasing an additional 649 shares during the period. Finally, New York State Common Retirement Fund purchased a new stake in Tectonic Therapeutic during the second quarter worth $99,000. 62.63% of the stock is owned by institutional investors and hedge funds.

Tectonic Therapeutic Price Performance

Shares of Tectonic Therapeutic stock opened at $21.37 on Friday. The stock has a market capitalization of $400.05 million, a P/E ratio of -5.54 and a beta of 3.71. The business has a 50 day simple moving average of $20.75 and a two-hundred day simple moving average of $19.64. Tectonic Therapeutic, Inc. has a 12 month low of $13.70 and a 12 month high of $31.12.

Analyst Ratings Changes

A number of research firms have weighed in on TECX. Truist Financial cut their price objective on shares of Tectonic Therapeutic from $64.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, January 8th. Lifesci Capital upgraded Tectonic Therapeutic to a “strong-buy” rating in a research report on Thursday, February 5th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Tectonic Therapeutic in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $81.50.

Insiders Place Their Bets

In other Tectonic Therapeutic news, CFO Daniel Lochner bought 6,000 shares of the stock in a transaction on Tuesday, February 10th. The shares were bought at an average price of $21.61 per share, with a total value of $129,660.00. Following the purchase, the chief financial officer directly owned 32,044 shares in the company, valued at $692,470.84. This trade represents a 23.04% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 38.00% 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.