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 company’s stock in a transaction dated Thursday, September 26th. The stock was bought at an average price of $28.82 per share, with a total value of $1,441,000.00. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is available at this link.

Tectonic Therapeutic Stock Up 7.1 %

TECX opened at $30.60 on Friday. Tectonic Therapeutic has a one year low of $12.12 and a one year high of $31.66. The firm has a market capitalization of $450.74 million, a PE ratio of 44.35 and a beta of 2.59. The firm has a 50 day simple moving average of $18.60.

Tectonic Therapeutic (NASDAQ:TECX) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($3.81) EPS for the quarter, missing analysts’ consensus estimates of ($1.96) by ($1.85). As a group, equities analysts predict that Tectonic Therapeutic will post -4.91 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TECX. Affinity Asset Advisors LLC acquired a new position in Tectonic Therapeutic during the second quarter worth $961,000. Renaissance Technologies LLC acquired a new position in Tectonic Therapeutic during the second quarter worth $1,466,000. Acadian Asset Management LLC acquired a new position in Tectonic Therapeutic during the second quarter worth $1,804,000. Atlas Venture Life Science Advisors LLC acquired a new position in Tectonic Therapeutic during the second quarter worth $6,233,000. Finally, Farallon Capital Management LLC acquired a new position in Tectonic Therapeutic during the second quarter worth $7,099,000. 62.63% of the stock is currently owned by institutional investors and hedge funds.

Tectonic Therapeutic Company 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.