Timothy A. Springer Buys 9,478 Shares of Tectonic Therapeutic (NASDAQ:TECX) Stock

Tectonic Therapeutic (NASDAQ:TECX) Director Timothy A. Springer acquired 9,478 shares of Tectonic Therapeutic stock in a transaction dated Friday, April 11th. The shares were acquired at an average cost of $16.31 per share, with a total value of $154,586.18. Following the completion of the acquisition, the director now directly owns 4,334,846 shares in the company, valued at $70,701,338.26. This trade represents a 0.22 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link.

Tectonic Therapeutic Stock Down 3.1 %

Shares of NASDAQ TECX opened at $16.16 on Friday. Tectonic Therapeutic has a 12-month low of $13.70 and a 12-month high of $61.07. The firm’s 50-day simple moving average is $24.50 and its 200 day simple moving average is $36.09. The company has a market cap of $301.59 million, a price-to-earnings ratio of -2.74 and a beta of 2.87.

Tectonic Therapeutic (NASDAQ:TECX) last posted its quarterly earnings results on Thursday, March 20th. The company reported ($0.84) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.39) by $0.55. On average, equities analysts expect that Tectonic Therapeutic will post -8.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Institutional Trading of Tectonic Therapeutic

Several institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. grew its holdings in Tectonic Therapeutic by 5,554.5% during the fourth quarter. JPMorgan Chase & Co. now owns 1,244 shares of the company’s stock valued at $57,000 after purchasing an additional 1,222 shares during the period. Virtus ETF Advisers LLC bought a new position in shares of Tectonic Therapeutic during the 4th quarter worth approximately $71,000. China Universal Asset Management Co. Ltd. acquired a new stake in Tectonic Therapeutic in the 4th quarter valued at $144,000. Charles Schwab Investment Management Inc. acquired a new stake in shares of Tectonic Therapeutic in the fourth quarter valued at about $218,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Tectonic Therapeutic during the 4th quarter worth approximately $228,000. Institutional investors own 62.63% of the company’s stock.

Tectonic Therapeutic Company 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.