EAM Investors LLC Cuts Stake in Tectonic Therapeutic (NASDAQ:TECX)

EAM Investors LLC lessened its stake in Tectonic Therapeutic (NASDAQ:TECX) by 4.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 25,061 shares of the company’s stock after selling 1,130 shares during the quarter. EAM Investors LLC’s holdings in Tectonic Therapeutic were worth $1,157,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TECX. Invesco Ltd. bought a new stake in Tectonic Therapeutic in the 4th quarter valued at $5,918,000. Geode Capital Management LLC grew its position in shares of Tectonic Therapeutic by 147.7% during the third quarter. Geode Capital Management LLC now owns 76,879 shares of the company’s stock valued at $2,331,000 after purchasing an additional 45,846 shares in the last quarter. Barclays PLC increased its holdings in shares of Tectonic Therapeutic by 1,008.5% in the fourth quarter. Barclays PLC now owns 15,974 shares of the company’s stock worth $737,000 after purchasing an additional 14,533 shares during the last quarter. Clarius Group LLC purchased a new stake in shares of Tectonic Therapeutic in the fourth quarter worth about $468,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Tectonic Therapeutic by 88.1% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,485 shares of the company’s stock valued at $669,000 after buying an additional 6,783 shares during the last quarter. Institutional investors own 62.63% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company decreased their price objective on Tectonic Therapeutic from $112.00 to $101.00 and set an “overweight” rating on the stock in a report on Friday, March 21st. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $77.75.

Insider Activity

In other Tectonic Therapeutic news, Director Timothy A. Springer bought 129,294 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were purchased at an average price of $54.14 per share, with a total value of $6,999,977.16. Following the completion of the purchase, the director now owns 4,226,058 shares in the company, valued at $228,798,780.12. This represents a 3.16 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Daniel Lochner purchased 4,617 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were acquired at an average cost of $54.14 per share, with a total value of $249,964.38. Following the completion of the purchase, the chief financial officer now directly owns 4,617 shares in the company, valued at $249,964.38. The trade was a ? increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 234,607 shares of company stock valued at $8,955,655. 9.20% of the stock is currently owned by company insiders.

Tectonic Therapeutic Trading Down 2.1 %

TECX opened at $17.56 on Thursday. The stock has a 50-day moving average of $23.05 and a 200 day moving average of $35.80. Tectonic Therapeutic has a 12 month low of $13.70 and a 12 month high of $61.07. The firm has a market cap of $327.72 million, a P/E ratio of -2.98 and a beta of 2.87.

Tectonic Therapeutic (NASDAQ:TECX) last announced its earnings results on Thursday, March 20th. The company reported ($0.84) EPS for the quarter, topping analysts’ consensus estimates of ($1.39) by $0.55. On average, research analysts forecast that Tectonic Therapeutic will post -8.31 earnings per share for the current fiscal 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.