Tectonic Therapeutic (NASDAQ:TECX) Director Acquires $10,077,000.00 in Stock

Tectonic Therapeutic (NASDAQ:TECX) Director Timothy A. Springer bought 300,000 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The shares were acquired at an average price of $33.59 per share, for a total transaction of $10,077,000.00. Following the completion of the transaction, the director now directly owns 4,096,764 shares in the company, valued at approximately $137,610,302.76. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Tectonic Therapeutic Stock Performance

NASDAQ TECX traded up $1.89 on Thursday, reaching $36.40. 81,908 shares of the company’s stock traded hands, compared to its average volume of 42,518. Tectonic Therapeutic has a fifty-two week low of $12.12 and a fifty-two week high of $37.99. The business has a 50 day moving average of $24.38. The stock has a market cap of $1.63 billion, a price-to-earnings ratio of 51.17 and a beta of 2.63.

Tectonic Therapeutic (NASDAQ:TECX) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($3.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.96) by ($1.85). On average, analysts expect that Tectonic Therapeutic will post -4.91 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Leerink Partnrs upgraded shares of Tectonic Therapeutic to a “strong-buy” rating in a report on Wednesday, July 24th. Piper Sandler began coverage on shares of Tectonic Therapeutic in a report on Wednesday, June 26th. They set an “overweight” rating and a $76.00 price objective on the stock. Wells Fargo & Company began coverage on shares of Tectonic Therapeutic in a report on Thursday, August 22nd. They set an “overweight” rating and a $55.00 price objective on the stock. Finally, Leerink Partners began coverage on shares of Tectonic Therapeutic in a research note on Wednesday, July 24th. They issued an “outperform” rating and a $49.00 target price for the company. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $60.00.

Institutional Trading of Tectonic Therapeutic

Institutional investors and hedge funds have recently modified their holdings of the stock. Affinity Asset Advisors LLC purchased a new stake in shares of Tectonic Therapeutic during the second quarter worth about $961,000. Renaissance Technologies LLC acquired a new position in Tectonic Therapeutic during the second quarter worth about $1,466,000. Acadian Asset Management LLC acquired a new position in Tectonic Therapeutic during the second quarter worth about $1,804,000. Atlas Venture Life Science Advisors LLC acquired a new position in Tectonic Therapeutic during the second quarter worth about $6,233,000. Finally, Farallon Capital Management LLC acquired a new position in Tectonic Therapeutic during the second quarter worth about $7,099,000. Hedge funds and other institutional investors own 62.63% of the company’s stock.

About Tectonic Therapeutic

Avrobio, Inc is a bio-technology company. It develops step-change cell and gene therapies for the treatment of cancer and rare disease. The company operates primarily in the United States and Canada. Avrobio, Inc is based in MA, United States.