Tectonic Therapeutic (NASDAQ:TECX) Insider Marcella Ruddy Sells 1,065 Shares of Stock

Tectonic Therapeutic, Inc. (NASDAQ:TECX) insider Marcella Ruddy sold 1,065 shares of Tectonic Therapeutic stock in a transaction on Monday, May 4th. The shares were sold at an average price of $30.00, for a total transaction of $31,950.00. Following the completion of the transaction, the insider owned 67,682 shares in the company, valued at approximately $2,030,460. This trade represents a 1.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Tectonic Therapeutic Stock Down 1.2%

Shares of TECX opened at $29.02 on Thursday. Tectonic Therapeutic, Inc. has a fifty-two week low of $14.39 and a fifty-two week high of $36.03. The firm has a market cap of $547.03 million, a PE ratio of -7.17 and a beta of 3.27. The company’s fifty day moving average is $29.40 and its two-hundred day moving average is $23.28.

Tectonic Therapeutic (NASDAQ:TECX) last issued its earnings results on Thursday, February 26th. The company reported ($1.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.11) by $0.08. As a group, equities research analysts anticipate that Tectonic Therapeutic, Inc. will post -4.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TECX. Lifesci Capital upgraded Tectonic Therapeutic to a “strong-buy” rating in a report on Thursday, February 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tectonic Therapeutic in a report on Tuesday, April 21st. Truist Financial lowered their price target on Tectonic Therapeutic from $64.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, January 8th. Stifel Nicolaus started coverage on Tectonic Therapeutic in a report on Monday, April 13th. They issued a “buy” rating and a $75.00 price target for the company. Finally, Wall Street Zen downgraded Tectonic Therapeutic from a “sell” rating to a “strong sell” rating in a report on Saturday, April 18th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $80.57.

Institutional Trading of Tectonic Therapeutic

A number of hedge funds have recently made changes to their positions in TECX. Baker BROS. Advisors LP raised its stake in shares of Tectonic Therapeutic by 803.4% during the fourth quarter. Baker BROS. Advisors LP now owns 903,400 shares of the company’s stock valued at $18,845,000 after purchasing an additional 803,400 shares during the period. Aberdeen Group plc raised its stake in shares of Tectonic Therapeutic by 220.6% during the fourth quarter. Aberdeen Group plc now owns 1,141,824 shares of the company’s stock valued at $23,818,000 after purchasing an additional 785,648 shares during the period. Braidwell LP purchased a new stake in shares of Tectonic Therapeutic during the third quarter valued at approximately $11,561,000. Orbimed Advisors LLC purchased a new stake in shares of Tectonic Therapeutic during the fourth quarter valued at approximately $11,986,000. Finally, Vestal Point Capital LP purchased a new stake in shares of Tectonic Therapeutic during the fourth quarter valued at approximately $6,842,000. Hedge funds and other institutional investors own 62.63% of the company’s stock.

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.