Aberdeen Group plc Acquires 785,648 Shares of Tectonic Therapeutic, Inc. $TECX

Aberdeen Group plc boosted its holdings in shares of Tectonic Therapeutic, Inc. (NASDAQ:TECX) by 220.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,141,824 shares of the company’s stock after acquiring an additional 785,648 shares during the period. Aberdeen Group plc owned 6.10% of Tectonic Therapeutic worth $23,818,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Caitong International Asset Management Co. Ltd boosted its holdings in 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 acquiring an additional 3,247 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in shares of Tectonic Therapeutic by 26.7% during the second quarter. China Universal Asset Management Co. Ltd. now owns 3,750 shares of the company’s stock valued at $75,000 after acquiring an additional 791 shares in the last quarter. New York State Common Retirement Fund purchased a new position in shares of Tectonic Therapeutic in the 2nd quarter worth about $99,000. AlphaQuest LLC raised its position in shares of Tectonic Therapeutic by 208.6% in the 3rd quarter. AlphaQuest LLC now owns 7,299 shares of the company’s stock worth $115,000 after purchasing an additional 4,934 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Tectonic Therapeutic in the 2nd quarter worth about $119,000. Hedge funds and other institutional investors own 62.63% of the company’s stock.

Tectonic Therapeutic Price Performance

NASDAQ TECX opened at $30.52 on Monday. The company has a 50-day moving average price of $26.32 and a 200-day moving average price of $21.31. Tectonic Therapeutic, Inc. has a 52 week low of $13.70 and a 52 week high of $36.03. The firm has a market capitalization of $573.17 million, a P/E ratio of -7.54 and a beta of 3.59.

Tectonic Therapeutic (NASDAQ:TECX) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($1.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.11) by $0.08. As a group, equities research analysts anticipate that Tectonic Therapeutic, Inc. will post -8.31 EPS for the current year.

Analyst Ratings Changes

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

Insider Buying and Selling at Tectonic Therapeutic

In other news, insider Marcella K. Ruddy sold 1,000 shares of the firm’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $31.05, for a total transaction of $31,050.00. Following the sale, the insider directly owned 68,747 shares in the company, valued at $2,134,594.35. This trade represents a 1.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Daniel Lochner acquired 6,000 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The shares were purchased at an average price of $21.61 per share, for a total transaction of $129,660.00. Following the completion of the transaction, the chief financial officer directly owned 32,044 shares in the company, valued at approximately $692,470.84. This trade represents a 23.04% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders sold 20,561 shares of company stock valued at $597,601. Company 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.