Tectonic Therapeutic (NASDAQ:TECX) Insider Peter Mcnamara Sells 1,650 Shares of Stock

Tectonic Therapeutic, Inc. (NASDAQ:TECX) insider Peter Mcnamara sold 1,650 shares of the business’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $25.00, for a total transaction of $41,250.00. Following the sale, the insider directly owned 58,832 shares of the company’s stock, valued at $1,470,800. This represents a 2.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Peter Mcnamara also recently made the following trade(s):

• On Tuesday, March 3rd, Peter Mcnamara sold 1,649 shares of Tectonic Therapeutic stock. The stock was sold at an average price of $22.06, for a total value of $36,376.94.

Tectonic Therapeutic Stock Up 1.6%

Shares of Tectonic Therapeutic stock traded up $0.44 during mid-day trading on Thursday, reaching $27.85. 471,882 shares of the stock traded hands, compared to its average volume of 405,128. The stock has a market capitalization of $523.02 million, a PE ratio of -6.88 and a beta of 3.76. The business has a 50-day moving average of $21.36 and a 200 day moving average of $19.66. Tectonic Therapeutic, Inc. has a fifty-two week low of $13.70 and a fifty-two week high of $28.98.

Tectonic Therapeutic (NASDAQ:TECX) last issued its quarterly earnings results on Thursday, February 26th. The company reported ($1.03) EPS for the quarter, topping the consensus estimate of ($1.11) by $0.08. On average, equities research analysts expect that Tectonic Therapeutic, Inc. will post -8.31 EPS for the current fiscal year.

Institutional Trading of Tectonic Therapeutic

Several institutional investors and hedge funds have recently bought and sold shares of TECX. AlphaQuest LLC boosted its stake in Tectonic Therapeutic by 919.4% during the second quarter. AlphaQuest LLC now owns 2,365 shares of the company’s stock worth $47,000 after buying an additional 2,133 shares during the period. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Tectonic Therapeutic in the 2nd quarter worth approximately $52,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Tectonic Therapeutic by 451.6% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 3,966 shares of the company’s stock worth $62,000 after acquiring an additional 3,247 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its position in shares of Tectonic Therapeutic by 26.7% during the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 3,750 shares of the company’s stock worth $75,000 after purchasing an additional 791 shares during the period. Finally, Virtus Investment Advisers LLC increased its holdings in Tectonic Therapeutic by 18.3% in the 2nd quarter. Virtus Investment Advisers LLC now owns 4,190 shares of the company’s stock valued at $83,000 after purchasing an additional 649 shares during the last quarter. 62.63% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TECX. Truist Financial decreased their target price on shares of Tectonic Therapeutic from $64.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, January 8th. Lifesci Capital raised Tectonic Therapeutic to a “strong-buy” rating in a research note on Thursday, February 5th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Tectonic Therapeutic in a report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $81.50.

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.