Tectonic Therapeutic (NASDAQ:TECX) CFO Daniel Lochner Purchases 6,000 Shares

Tectonic Therapeutic, Inc. (NASDAQ:TECX) CFO Daniel Lochner bought 6,000 shares of the company’s stock in a transaction on Tuesday, February 10th. The stock was bought at an average price of $21.61 per share, for a total transaction of $129,660.00. Following the completion of the purchase, the chief financial officer directly owned 32,044 shares in the company, valued at approximately $692,470.84. This represents a 23.04% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.

Tectonic Therapeutic Price Performance

Shares of NASDAQ:TECX traded up $0.96 during trading on Wednesday, reaching $22.01. 1,360,094 shares of the company were exchanged, compared to its average volume of 428,158. The business’s fifty day simple moving average is $20.48 and its 200-day simple moving average is $19.62. Tectonic Therapeutic, Inc. has a 12-month low of $13.70 and a 12-month high of $36.11. The firm has a market capitalization of $412.03 million, a PE ratio of -5.70 and a beta of 3.71.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of TECX. Aberdeen Group plc boosted its stake in Tectonic Therapeutic by 220.6% in the fourth quarter. Aberdeen Group plc now owns 1,141,824 shares of the company’s stock valued at $23,818,000 after acquiring an additional 785,648 shares in the last quarter. Braidwell LP acquired a new position in shares of Tectonic Therapeutic during the third quarter worth $11,561,000. Citadel Advisors LLC lifted its holdings in shares of Tectonic Therapeutic by 80.8% during the 3rd quarter. Citadel Advisors LLC now owns 298,388 shares of the company’s stock valued at $4,682,000 after purchasing an additional 133,342 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Tectonic Therapeutic by 242.5% in the 2nd quarter. Geode Capital Management LLC now owns 272,257 shares of the company’s stock worth $5,411,000 after purchasing an additional 192,770 shares in the last quarter. Finally, Millennium Management LLC boosted its position in shares of Tectonic Therapeutic by 218.0% in the 3rd quarter. Millennium Management LLC now owns 238,170 shares of the company’s stock worth $3,737,000 after purchasing an additional 163,281 shares in the last quarter. Institutional investors own 62.63% of the company’s stock.

Analysts Set New Price Targets

TECX has been the topic of several recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tectonic Therapeutic in a report on Thursday, January 22nd. Lifesci Capital upgraded shares of Tectonic Therapeutic to a “strong-buy” rating in a research note on Thursday, February 5th. Truist Financial cut their price objective on shares of Tectonic Therapeutic from $64.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, January 8th. Finally, Wells Fargo & Company started coverage on shares of Tectonic Therapeutic in a research note on Monday, October 20th. They issued an “overweight” rating and a $101.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus 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.