Tectonic Therapeutic, Inc. $TECX Shares Purchased by Sei Investments Co.

Sei Investments Co. boosted its stake in shares of Tectonic Therapeutic, Inc. (NASDAQ:TECX) by 141.8% during the 1st quarter, Holdings Channel.com reports. The firm owned 36,870 shares of the company’s stock after acquiring an additional 21,619 shares during the period. Sei Investments Co.’s holdings in Tectonic Therapeutic were worth $1,140,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of TECX. Millennium Management LLC boosted its stake in shares of Tectonic Therapeutic by 726.4% in the 1st quarter. Millennium Management LLC now owns 237,938 shares of the company’s stock valued at $4,214,000 after buying an additional 209,145 shares during the period. Goldman Sachs Group Inc. raised its holdings in Tectonic Therapeutic by 331.1% in the first quarter. Goldman Sachs Group Inc. now owns 104,793 shares of the company’s stock valued at $1,856,000 after acquiring an additional 80,483 shares in the last quarter. Jane Street Group LLC raised its holdings in Tectonic Therapeutic by 58.7% in the first quarter. Jane Street Group LLC now owns 47,145 shares of the company’s stock valued at $835,000 after acquiring an additional 17,443 shares in the last quarter. Geode Capital Management LLC lifted its stake in Tectonic Therapeutic by 242.5% in the second quarter. Geode Capital Management LLC now owns 272,257 shares of the company’s stock worth $5,411,000 after acquiring an additional 192,770 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Tectonic Therapeutic by 483.6% in the second quarter. JPMorgan Chase & Co. now owns 6,548 shares of the company’s stock worth $130,000 after acquiring an additional 5,426 shares during the last quarter. Institutional investors and hedge funds own 62.63% of the company’s stock.

Tectonic Therapeutic Stock Up 15.6%

TECX stock opened at $36.83 on Thursday. The business has a 50 day moving average price of $31.57 and a 200 day moving average price of $28.87. The stock has a market cap of $720.03 million, a price-to-earnings ratio of -8.06 and a beta of 3.28. Tectonic Therapeutic, Inc. has a fifty-two week low of $14.39 and a fifty-two week high of $39.53.

Tectonic Therapeutic (NASDAQ:TECX) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($1.18) EPS for the quarter, beating the consensus estimate of ($1.35) by $0.17. As a group, sell-side analysts anticipate that Tectonic Therapeutic, Inc. will post -5.25 EPS for the current year.

Analyst Upgrades and Downgrades

TECX has been the subject of several analyst reports. Wells Fargo & Company lowered their price target on shares of Tectonic Therapeutic from $101.00 to $93.00 and set an “overweight” rating for the company in a report on Friday, August 7th. Raymond James Financial upgraded shares of Tectonic Therapeutic from an “outperform” rating to a “strong-buy” rating and raised their price objective for the company from $76.00 to $81.00 in a report on Tuesday, May 26th. Wall Street Zen raised shares of Tectonic Therapeutic from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tectonic Therapeutic in a research note on Friday, July 17th. Finally, Zacks Research lowered Tectonic Therapeutic from a “hold” rating to a “strong sell” rating in a report on Monday, July 20th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $77.80.

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.