Artia Global Partners LP Makes New $769,000 Investment in Tectonic Therapeutic (NASDAQ:TECX)

Artia Global Partners LP purchased a new stake in Tectonic Therapeutic (NASDAQ:TECX - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 16,650 shares of the company's stock, valued at approximately $769,000. Artia Global Partners LP owned about 0.11% of Tectonic Therapeutic at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Virtus ETF Advisers LLC bought a new position in Tectonic Therapeutic during the fourth quarter worth about $71,000. Susquehanna International Group LLP grew its stake in Tectonic Therapeutic by 165.2% during the fourth quarter. Susquehanna International Group LLP now owns 166,452 shares of the company's stock worth $7,685,000 after buying an additional 103,698 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Tectonic Therapeutic by 10.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 26,264 shares of the company's stock worth $1,213,000 after buying an additional 2,409 shares in the last quarter. Walleye Capital LLC boosted its stake in shares of Tectonic Therapeutic by 0.8% in the 4th quarter. Walleye Capital LLC now owns 73,517 shares of the company's stock valued at $3,394,000 after purchasing an additional 555 shares in the last quarter. Finally, Barclays PLC boosted its stake in shares of Tectonic Therapeutic by 1,008.5% in the 4th quarter. Barclays PLC now owns 15,974 shares of the company's stock valued at $737,000 after purchasing an additional 14,533 shares in the last quarter. 62.63% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Company reduced their price target 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 initiated coverage on shares of 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 investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $72.40.

Tectonic Therapeutic Stock Up 3.1 %

TECX traded up $0.63 during trading on Wednesday, reaching $20.86. 109,783 shares of the stock traded hands, compared to its average volume of 174,170. The stock has a market capitalization of $389.48 million, a PE ratio of -3.54 and a beta of 2.87. The stock's 50-day moving average is $20.59 and its 200 day moving average is $35.11. Tectonic Therapeutic has a 12 month low of $13.70 and a 12 month high of $61.07.

Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The company reported ($0.84) EPS for the quarter, beating analysts' consensus estimates of ($1.39) by $0.55. As a group, equities research analysts anticipate that Tectonic Therapeutic will post -8.31 EPS for the current year.

Insider Transactions at Tectonic Therapeutic

In related news, Director Timothy A. Springer acquired 129,294 shares of the business's stock in a transaction dated Wednesday, February 5th. The shares were bought at an average price of $54.14 per share, with a total value of $6,999,977.16. Following the transaction, the director now directly owns 4,226,058 shares of the company's stock, valued at $228,798,780.12. This trade represents a 3.16 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Daniel Lochner acquired 4,617 shares of the business's stock in a transaction dated Wednesday, February 5th. The shares were bought at an average cost of $54.14 per share, for a total transaction of $249,964.38. Following the transaction, the chief financial officer now directly owns 4,617 shares in the company, valued at approximately $249,964.38. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 234,607 shares of company stock valued at $8,955,655 in the last 90 days. 9.20% of the stock is currently owned by corporate insiders.

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.