Timothy A. Springer Acquires 87,500 Shares of Tectonic Therapeutic (NASDAQ:TECX) Stock

Tectonic Therapeutic (NASDAQ:TECX) Director Timothy A. Springer purchased 87,500 shares of the firm’s stock in a transaction dated Monday, April 7th. The stock was acquired at an average cost of $17.10 per share, with a total value of $1,496,250.00. Following the purchase, the director now owns 4,313,558 shares of the company’s stock, valued at approximately $73,761,841.80. This represents a 2.07 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Tectonic Therapeutic Stock Performance

Shares of TECX stock opened at $16.68 on Friday. The business’s fifty day moving average is $25.14 and its 200-day moving average is $36.18. Tectonic Therapeutic has a 1 year low of $13.70 and a 1 year high of $61.07. The stock has a market cap of $311.30 million, a PE ratio of -2.83 and a beta of 2.87.

Tectonic Therapeutic (NASDAQ:TECX) last released its earnings results on Thursday, March 20th. The company reported ($0.84) EPS for the quarter, topping analysts’ consensus estimates of ($1.39) by $0.55. Equities research analysts predict that Tectonic Therapeutic will post -8.31 earnings per share for the current year.

Institutional Investors Weigh In On Tectonic Therapeutic

Large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its position in shares of Tectonic Therapeutic by 5,554.5% during the fourth quarter. JPMorgan Chase & Co. now owns 1,244 shares of the company’s stock worth $57,000 after purchasing an additional 1,222 shares during the period. Virtus ETF Advisers LLC acquired a new stake in Tectonic Therapeutic during the 4th quarter worth about $71,000. China Universal Asset Management Co. Ltd. purchased a new stake in Tectonic Therapeutic during the fourth quarter valued at about $144,000. Charles Schwab Investment Management Inc. acquired a new position in shares of Tectonic Therapeutic in the fourth quarter worth about $218,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Tectonic Therapeutic in the fourth quarter worth approximately $228,000. 62.63% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company reduced their price objective on shares of Tectonic Therapeutic from $112.00 to $101.00 and set an “overweight” rating for the company in a report on Friday, March 21st. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $77.75.

Tectonic Therapeutic Company Profile

Tectonic Therapeutic, Inc engages in discovery and development of therapeutic proteins & antibodies. The company was founded by Timothy A. Springer and Andrew Kruse in 2019 and is headquartered in Watertown, MA.