DLD Asset Management LP Makes New $235,000 Investment in Tectonic Therapeutic, Inc. $TECX

DLD Asset Management LP bought a new stake 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 fund bought 15,000 shares of the company’s stock, valued at approximately $235,000. DLD Asset Management LP owned 0.08% of Tectonic Therapeutic as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Aberdeen Group plc acquired a new stake in shares of Tectonic Therapeutic during the 3rd quarter worth about $5,588,000. Millennium Management LLC boosted its stake in Tectonic Therapeutic by 726.4% during the first quarter. Millennium Management LLC now owns 237,938 shares of the company’s stock worth $4,214,000 after buying an additional 209,145 shares during the period. Geode Capital Management LLC boosted its stake in Tectonic Therapeutic by 242.5% during the second quarter. Geode Capital Management LLC now owns 272,257 shares of the company’s stock worth $5,411,000 after buying an additional 192,770 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Tectonic Therapeutic by 331.1% during the first quarter. Goldman Sachs Group Inc. now owns 104,793 shares of the company’s stock valued at $1,856,000 after acquiring an additional 80,483 shares during the last quarter. Finally, TFG Asset Management GP Ltd increased its position in shares of Tectonic Therapeutic by 22.0% during the second quarter. TFG Asset Management GP Ltd now owns 228,832 shares of the company’s stock valued at $4,547,000 after acquiring an additional 41,332 shares during the last quarter. Institutional investors and hedge funds own 62.63% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, CFO Daniel Lochner bought 6,000 shares of the stock in a transaction that occurred on Tuesday, February 10th. The stock was purchased at an average price of $21.61 per share, for a total transaction of $129,660.00. Following the completion of the purchase, the chief financial officer owned 32,044 shares in the company, valued at approximately $692,470.84. This trade represents a 23.04% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Peter Mcnamara sold 1,650 shares of the stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $25.00, for a total value of $41,250.00. Following the completion of the transaction, the insider directly owned 58,832 shares in the company, valued at $1,470,800. This trade represents a 2.73% decrease in their position. The SEC filing for this sale provides additional information. 38.00% of the stock is currently owned by company insiders.

Tectonic Therapeutic Stock Performance

Shares of TECX opened at $35.87 on Monday. Tectonic Therapeutic, Inc. has a 1 year low of $13.70 and a 1 year high of $36.03. The stock has a market capitalization of $673.53 million, a PE ratio of -8.86 and a beta of 3.76. The stock has a 50-day simple moving average of $21.78 and a 200-day simple moving average of $19.74.

Tectonic Therapeutic (NASDAQ:TECX) last issued its earnings results on Thursday, February 26th. The company reported ($1.03) earnings per share for the quarter, beating the consensus estimate of ($1.11) by $0.08. Analysts predict that Tectonic Therapeutic, Inc. will post -8.31 EPS for the current year.

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.