Tectonic Therapeutic (NASDAQ:TECX) Director Timothy A. Springer Buys 129,294 Shares

Tectonic Therapeutic (NASDAQ:TECX) Director Timothy A. Springer purchased 129,294 shares of Tectonic Therapeutic stock in a transaction dated Wednesday, February 5th. The stock was bought 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 directly owns 4,226,058 shares of the company’s stock, valued at approximately $228,798,780.12. This trade represents a 3.16 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Tectonic Therapeutic Trading Down 14.4 %

Shares of NASDAQ:TECX traded down $6.15 during mid-day trading on Friday, reaching $36.45. The stock had a trading volume of 337,569 shares, compared to its average volume of 469,099. Tectonic Therapeutic has a 1 year low of $13.80 and a 1 year high of $61.07. The business’s 50 day moving average price is $45.51 and its 200 day moving average price is $34.25. The company has a market cap of $537.64 million, a P/E ratio of -6.19 and a beta of 2.62.

Tectonic Therapeutic (NASDAQ:TECX) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($1.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.36). Analysts predict that Tectonic Therapeutic will post -8.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TECX. Raymond James initiated coverage on Tectonic Therapeutic in a research note on Wednesday, November 20th. They set an “outperform” rating and a $65.00 price target for the company. Wells Fargo & Company lifted their price target on shares of Tectonic Therapeutic from $79.00 to $112.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, Leerink Partners raised their price objective on shares of Tectonic Therapeutic from $49.00 to $69.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $80.50.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Raymond James Financial Inc. acquired a new position in Tectonic Therapeutic during the fourth quarter valued at $228,000. Charles Schwab Investment Management Inc. acquired a new stake in Tectonic Therapeutic in the fourth quarter valued at approximately $218,000. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Tectonic Therapeutic in the fourth quarter valued at about $144,000. Clarius Group LLC acquired a new stake in shares of Tectonic Therapeutic in the fourth quarter worth approximately $468,000. Finally, Exome Asset Management LLC grew its holdings in shares of Tectonic Therapeutic by 12.2% during the third quarter. Exome Asset Management LLC now owns 36,344 shares of the company’s stock worth $1,101,000 after buying an additional 3,955 shares in the last quarter. 62.63% of the stock is currently owned by hedge funds and other institutional investors.

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.