Tectonic Therapeutic (NASDAQ:TECX) Insider Peter Mcnamara Sells 1,649 Shares

Tectonic Therapeutic, Inc. (NASDAQ:TECX) insider Peter Mcnamara sold 1,649 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $22.06, for a total transaction of $36,376.94. Following the transaction, the insider owned 37,482 shares in the company, valued at approximately $826,852.92. This trade represents a 4.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Wednesday, March 4th, Peter Mcnamara sold 1,650 shares of Tectonic Therapeutic stock. The shares were sold at an average price of $25.00, for a total transaction of $41,250.00.

Tectonic Therapeutic Stock Performance

Shares of NASDAQ TECX traded up $5.82 during trading on Friday, reaching $33.67. The company had a trading volume of 557,697 shares, compared to its average volume of 406,944. Tectonic Therapeutic, Inc. has a 52 week low of $13.70 and a 52 week high of $34.00. The business’s 50 day moving average price is $21.48 and its 200-day moving average price is $19.72. The stock has a market cap of $632.22 million, a PE ratio of -8.31 and a beta of 3.76.

Tectonic Therapeutic (NASDAQ:TECX) last issued its quarterly earnings results on Thursday, February 26th. The company reported ($1.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.11) by $0.08. Equities analysts anticipate that Tectonic Therapeutic, Inc. will post -8.31 earnings per share for the current year.

Hedge Funds Weigh In On Tectonic Therapeutic

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tectonic Therapeutic in a research note on Thursday, January 22nd. Lifesci Capital upgraded shares of Tectonic Therapeutic to a “strong-buy” rating in a research report on Thursday, February 5th. Finally, Truist Financial reduced 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. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $81.50.

About Tectonic Therapeutic

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.