Tectonic Therapeutic (NASDAQ:TECX) Stock Price Down 4.4% – Should You Sell?

Tectonic Therapeutic, Inc. (NASDAQ:TECX)’s share price fell 4.4% on Wednesday . The company traded as low as $33.07 and last traded at $33.2740. 10,096 shares traded hands during trading, a decline of 96% from the average session volume of 281,680 shares. The stock had previously closed at $34.81.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Tectonic Therapeutic in a report on Tuesday, April 21st. Wall Street Zen cut Tectonic Therapeutic from a “sell” rating to a “strong sell” rating in a research report on Saturday, April 18th. Raymond James Financial raised Tectonic Therapeutic from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the stock from $76.00 to $81.00 in a research report on Tuesday, May 26th. Finally, Stifel Nicolaus assumed coverage on Tectonic Therapeutic in a research note on Monday, April 13th. They set a “buy” rating and a $75.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $79.40.

Tectonic Therapeutic Stock Down 5.7%

The firm has a market cap of $578.37 million, a P/E ratio of -6.87 and a beta of 3.21. The stock’s 50-day moving average is $30.81 and its 200-day moving average is $27.44.

Tectonic Therapeutic (NASDAQ:TECX) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($1.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.16) by ($0.18). As a group, analysts expect that Tectonic Therapeutic, Inc. will post -5.46 EPS for the current fiscal year.

Insider Buying and Selling at Tectonic Therapeutic

In related news, insider Marcella K. Ruddy sold 1,065 shares of Tectonic Therapeutic stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $30.00, for a total transaction of $31,950.00. Following the sale, the insider directly owned 67,682 shares of the company’s stock, valued at $2,030,460. This trade represents a 1.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 39.80% of the company’s stock.

Hedge Funds Weigh In On Tectonic Therapeutic

Several large investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd lifted its position in shares of Tectonic Therapeutic by 451.6% in the 3rd 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 during the period. New York State Common Retirement Fund bought a new stake in shares of Tectonic Therapeutic during the second quarter valued at approximately $99,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Tectonic Therapeutic during the second quarter valued at approximately $119,000. JPMorgan Chase & Co. raised its stake in shares of Tectonic Therapeutic by 483.6% in the second quarter. JPMorgan Chase & Co. now owns 6,548 shares of the company’s stock valued at $130,000 after purchasing an additional 5,426 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Tectonic Therapeutic in the fourth quarter valued at $134,000. Institutional investors and hedge funds own 62.63% of the company’s stock.

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.