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

Tectonic Therapeutic (NASDAQ:TECX) Director Timothy A. Springer acquired 300,000 shares of the business’s stock in a transaction on Tuesday, October 22nd. The stock was acquired at an average price of $33.59 per share, with a total value of $10,077,000.00. Following the acquisition, the director now owns 4,096,764 shares in the company, valued at $137,610,302.76. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link.

Tectonic Therapeutic Stock Performance

TECX stock opened at $38.74 on Friday. Tectonic Therapeutic has a 52-week low of $12.12 and a 52-week high of $39.40. The firm has a market capitalization of $1.74 billion, a PE ratio of 56.14 and a beta of 2.63. The stock’s fifty day simple moving average is $25.20.

Tectonic Therapeutic (NASDAQ:TECX) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($3.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.96) by ($1.85). As a group, analysts predict that Tectonic Therapeutic will post -4.91 EPS for the current fiscal year.

Hedge Funds Weigh In On Tectonic Therapeutic

Several large investors have recently made changes to their positions in TECX. Affinity Asset Advisors LLC acquired a new stake in Tectonic Therapeutic in the 2nd quarter valued at approximately $961,000. Renaissance Technologies LLC purchased a new position in shares of Tectonic Therapeutic during the second quarter worth $1,466,000. Acadian Asset Management LLC acquired a new stake in shares of Tectonic Therapeutic in the second quarter valued at $1,804,000. Atlas Venture Life Science Advisors LLC purchased a new stake in shares of Tectonic Therapeutic in the 2nd quarter valued at $6,233,000. Finally, Farallon Capital Management LLC acquired a new position in Tectonic Therapeutic during the 2nd quarter worth about $7,099,000. 62.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Tectonic Therapeutic Company Profile

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.