Tectonic Therapeutic (NASDAQ:TECX) Insider Sells $31,050.00 in Stock

Tectonic Therapeutic, Inc. (NASDAQ:TECX) insider Marcella Ruddy sold 1,000 shares of Tectonic Therapeutic stock in a transaction on Wednesday, April 1st. The stock was 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 of the company’s stock, valued at $2,134,594.35. This represents a 1.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Tectonic Therapeutic Price Performance

TECX stock opened at $30.52 on Monday. Tectonic Therapeutic, Inc. has a twelve month low of $13.70 and a twelve month high of $36.03. The company has a market cap of $573.17 million, a P/E ratio of -7.54 and a beta of 3.59. The business’s fifty day moving average is $26.32 and its 200-day moving average is $21.31.

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

Hedge Funds Weigh In On Tectonic Therapeutic

A number of large investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd lifted its holdings in shares of 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 valued at $62,000 after purchasing an additional 3,247 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its position in Tectonic Therapeutic by 26.7% in the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 3,750 shares of the company’s stock valued at $75,000 after buying an additional 791 shares during the last quarter. New York State Common Retirement Fund acquired a new stake in Tectonic Therapeutic in the 2nd quarter valued at approximately $99,000. AlphaQuest LLC lifted its stake in 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 in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Tectonic Therapeutic during the 2nd quarter worth approximately $119,000. Institutional investors own 62.63% of the company’s stock.

Analyst Upgrades and Downgrades

TECX has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tectonic Therapeutic in a research note on Thursday, January 22nd. Truist Financial decreased 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. Finally, Lifesci Capital raised shares of Tectonic Therapeutic to a “strong-buy” rating in a research note on Thursday, February 5th. One equities research 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $81.50.

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.