Tectonic Therapeutic (NASDAQ:TECX) Shares Acquired by Exome Asset Management LLC

Exome Asset Management LLC raised its position in Tectonic Therapeutic (NASDAQ:TECX) by 12.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 36,344 shares of the company’s stock after purchasing an additional 3,955 shares during the period. Exome Asset Management LLC owned 0.25% of Tectonic Therapeutic worth $1,101,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. FMR LLC raised its stake in Tectonic Therapeutic by 13.2% in the third quarter. FMR LLC now owns 1,220,138 shares of the company’s stock valued at $36,970,000 after buying an additional 142,600 shares in the last quarter. Affinity Asset Advisors LLC purchased a new position in shares of Tectonic Therapeutic in the 2nd quarter valued at about $961,000. Farallon Capital Management LLC acquired a new stake in shares of Tectonic Therapeutic during the 2nd quarter worth about $7,099,000. Vida Ventures Advisors LLC acquired a new stake in shares of Tectonic Therapeutic during the 3rd quarter worth about $31,169,000. Finally, Renaissance Technologies LLC purchased a new stake in Tectonic Therapeutic during the second quarter worth approximately $1,466,000. 62.63% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Tectonic Therapeutic

In other news, Director Timothy A. Springer purchased 300,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was purchased at an average cost of $33.59 per share, with a total value of $10,077,000.00. Following the completion of the acquisition, the director now directly owns 4,096,764 shares of the company’s stock, valued at approximately $137,610,302.76. This trade represents a 7.90 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 9.20% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Wells Fargo & Company raised their price objective on shares of Tectonic Therapeutic from $55.00 to $79.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. Raymond James assumed coverage on shares of Tectonic Therapeutic in a research note on Wednesday, November 20th. They set an “outperform” rating and a $65.00 price target on the stock. Finally, Leerink Partners upped their price objective on shares of Tectonic Therapeutic from $49.00 to $69.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Tectonic Therapeutic has an average rating of “Buy” and a consensus target price of $72.25.

Tectonic Therapeutic Trading Down 2.2 %

Shares of NASDAQ TECX opened at $45.33 on Friday. The business’s fifty day moving average is $42.38. Tectonic Therapeutic has a 1-year low of $12.12 and a 1-year high of $53.34. The firm has a market capitalization of $668.62 million, a P/E ratio of -7.70 and a beta of 2.60.

Tectonic Therapeutic 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.