Timothy A. Springer Acquires 129,294 Shares of Tectonic Therapeutic (NASDAQ:TECX) Stock

Tectonic Therapeutic (NASDAQ:TECX) Director Timothy A. Springer acquired 129,294 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was purchased at an average price of $54.14 per share, for a total transaction of $6,999,977.16. Following the completion of the transaction, the director now owns 4,226,058 shares in the company, valued at $228,798,780.12. The trade was a 3.16 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link.

Tectonic Therapeutic Stock Down 14.4 %

NASDAQ:TECX opened at $36.45 on Friday. The firm’s fifty day simple moving average is $45.25 and its 200-day simple moving average is $34.39. The stock has a market cap of $537.64 million, a PE ratio of -6.19 and a beta of 2.62. Tectonic Therapeutic has a fifty-two week low of $13.80 and a fifty-two week high of $61.07.

Tectonic Therapeutic (NASDAQ:TECX) last issued its earnings results on Thursday, November 7th. The company reported ($1.20) earnings per share for the quarter, missing the consensus estimate of ($0.84) by ($0.36). Equities analysts anticipate that Tectonic Therapeutic will post -8.31 earnings per share for the current year.

Institutional Investors Weigh In On Tectonic Therapeutic

Institutional investors have recently modified their holdings of the company. Nordwand Advisors LLC purchased a new position in Tectonic Therapeutic in the 3rd quarter valued at approximately $45,000. China Universal Asset Management Co. Ltd. acquired a new stake in Tectonic Therapeutic in the fourth quarter valued at $144,000. Exome Asset Management LLC grew its holdings in Tectonic Therapeutic by 12.2% in the third quarter. Exome Asset Management LLC now owns 36,344 shares of the company’s stock valued at $1,101,000 after purchasing an additional 3,955 shares during the last quarter. Charles Schwab Investment Management Inc. purchased a new position in shares of Tectonic Therapeutic in the fourth quarter valued at $218,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Tectonic Therapeutic during the 4th quarter worth $228,000. Hedge funds and other institutional investors own 62.63% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.