Tectonic Therapeutic (NASDAQ:TECX) Director Buys $1,441,000.00 in Stock

Tectonic Therapeutic (NASDAQ:TECX) Director Timothy A. Springer purchased 50,000 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The stock was acquired at an average cost of $28.82 per share, with a total value of $1,441,000.00. Following the completion of the acquisition, the director now directly owns 3,796,764 shares of the company’s stock, valued at $109,422,738.48. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Tectonic Therapeutic Trading Up 7.1 %

TECX opened at $30.60 on Friday. The stock has a fifty day moving average price of $18.60. The firm has a market capitalization of $450.74 million, a price-to-earnings ratio of 44.35 and a beta of 2.59. Tectonic Therapeutic has a twelve month low of $12.12 and a twelve month high of $31.66.

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

Institutional Investors Weigh In On Tectonic Therapeutic

Institutional investors have recently added to or reduced their stakes in the stock. Affinity Asset Advisors LLC bought a new position in shares of Tectonic Therapeutic during the second quarter worth about $961,000. Farallon Capital Management LLC bought a new position in shares of Tectonic Therapeutic during the 2nd quarter worth approximately $7,099,000. Renaissance Technologies LLC acquired a new stake in shares of Tectonic Therapeutic in the second quarter valued at approximately $1,466,000. Atlas Venture Life Science Advisors LLC bought a new stake in Tectonic Therapeutic during the 2nd quarter worth about $6,233,000. Finally, Acadian Asset Management LLC acquired a new position in shares of Tectonic Therapeutic during the 2nd quarter worth about $1,804,000. 62.63% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TECX. Piper Sandler assumed coverage on shares of Tectonic Therapeutic in a research report on Wednesday, June 26th. They set an “overweight” rating and a $76.00 target price on the stock. Wells Fargo & Company started coverage on Tectonic Therapeutic in a report on Thursday, August 22nd. They issued an “overweight” rating and a $55.00 price target on the stock. Leerink Partners began coverage on shares of Tectonic Therapeutic in a research note on Wednesday, July 24th. They set an “outperform” rating and a $49.00 price target for the company. Leerink Partnrs raised shares of Tectonic Therapeutic to a “strong-buy” rating in a research note on Wednesday, July 24th. Finally, TD Cowen began coverage on shares of Tectonic Therapeutic in a research report on Monday, June 24th. They set a “buy” rating for the company. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $60.00.

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.