Acuta Capital Partners LLC Takes $415,000 Position in Tectonic Therapeutic (NASDAQ:TECX)

Acuta Capital Partners LLC acquired a new position in shares of Tectonic Therapeutic (NASDAQ:TECX) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 13,700 shares of the company’s stock, valued at approximately $415,000. Acuta Capital Partners LLC owned approximately 0.09% of Tectonic Therapeutic as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. FMR LLC raised its holdings in shares of Tectonic Therapeutic by 13.2% during the 3rd quarter. FMR LLC now owns 1,220,138 shares of the company’s stock worth $36,970,000 after acquiring an additional 142,600 shares during the period. Vida Ventures Advisors LLC acquired a new stake in Tectonic Therapeutic during the third quarter worth about $31,169,000. Farallon Capital Management LLC acquired a new position in Tectonic Therapeutic in the 2nd quarter valued at about $7,099,000. Atlas Venture Life Science Advisors LLC acquired a new position in Tectonic Therapeutic in the 2nd quarter valued at about $6,233,000. Finally, Acadian Asset Management LLC purchased a new stake in shares of Tectonic Therapeutic in the 2nd quarter valued at approximately $1,804,000. Institutional investors and hedge funds own 62.63% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on TECX. Leerink Partners upped their price objective on Tectonic Therapeutic from $49.00 to $69.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Raymond James started coverage on Tectonic Therapeutic in a research report on Wednesday, November 20th. They issued an “outperform” rating and a $65.00 target price on the stock. Finally, Wells Fargo & Company increased their price target on Tectonic Therapeutic from $55.00 to $79.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $72.25.

Tectonic Therapeutic Trading Up 2.8 %

Shares of NASDAQ TECX opened at $49.16 on Thursday. The firm has a 50 day moving average price of $37.01. Tectonic Therapeutic has a 52-week low of $12.12 and a 52-week high of $50.53. The stock has a market capitalization of $725.11 million, a price-to-earnings ratio of -8.35 and a beta of 2.60.

Insider Activity

In other Tectonic Therapeutic news, Director Timothy A. Springer acquired 50,000 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was purchased at an average price of $28.82 per share, for a total transaction of $1,441,000.00. Following the completion of the acquisition, the director now owns 3,796,764 shares of the company’s stock, valued at approximately $109,422,738.48. This trade represents a 1.33 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 9.20% of the company’s stock.

About Tectonic Therapeutic

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.