14,027 Shares in Tectonic Therapeutic (NASDAQ:TECX) Acquired by 683 Capital Management LLC

683 Capital Management LLC purchased a new stake in shares of Tectonic Therapeutic (NASDAQ:TECX - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 14,027 shares of the company's stock, valued at approximately $648,000. 683 Capital Management LLC owned approximately 0.10% of Tectonic Therapeutic as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of TECX. JPMorgan Chase & Co. lifted its holdings in shares of Tectonic Therapeutic by 5,554.5% during the 4th quarter. JPMorgan Chase & Co. now owns 1,244 shares of the company's stock valued at $57,000 after acquiring an additional 1,222 shares in the last quarter. Virtus ETF Advisers LLC purchased a new stake in shares of Tectonic Therapeutic in the fourth quarter worth about $71,000. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Tectonic Therapeutic in the fourth quarter valued at about $144,000. Charles Schwab Investment Management Inc. purchased a new stake in shares of Tectonic Therapeutic during the 4th quarter valued at about $218,000. Finally, Raymond James Financial Inc. acquired a new position in Tectonic Therapeutic during the 4th quarter worth approximately $228,000. 62.63% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tectonic Therapeutic

In other news, Director Timothy A. Springer purchased 9,478 shares of the firm's stock in a transaction on Friday, April 11th. The stock was purchased at an average cost of $16.31 per share, with a total value of $154,586.18. Following the purchase, the director now owns 4,334,846 shares in the company, valued at $70,701,338.26. This trade represents a 0.22 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last three months, insiders have purchased 100,696 shares of company stock worth $1,705,714. 9.20% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on TECX shares. Wells Fargo & Company dropped their price objective on shares of Tectonic Therapeutic from $112.00 to $101.00 and set an "overweight" rating on the stock in a research note on Friday, March 21st. Mizuho assumed coverage on Tectonic Therapeutic in a research note on Monday, April 21st. They issued an "outperform" rating and a $51.00 price target on the stock. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Tectonic Therapeutic presently has a consensus rating of "Buy" and a consensus target price of $72.40.

Tectonic Therapeutic Stock Performance

Shares of NASDAQ TECX traded up $0.24 during trading on Wednesday, reaching $19.16. The stock had a trading volume of 54,111 shares, compared to its average volume of 174,375. The firm's 50 day moving average price is $19.93 and its two-hundred day moving average price is $34.60. Tectonic Therapeutic has a one year low of $13.70 and a one year high of $61.07. The stock has a market cap of $357.74 million, a PE ratio of -3.25 and a beta of 3.44.

Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) last issued its earnings results on Thursday, March 20th. The company reported ($0.84) earnings per share for the quarter, topping analysts' consensus estimates of ($1.39) by $0.55. On average, research analysts expect that Tectonic Therapeutic will post -8.31 earnings per share for the current year.

Tectonic Therapeutic 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.