Artia Global Partners LP Buys New Position 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 Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC increased its stake in shares of Tectonic Therapeutic by 147.7% in the third quarter. Geode Capital Management LLC now owns 76,879 shares of the company's stock worth $2,331,000 after buying an additional 45,846 shares during the last quarter. Clarius Group LLC acquired a new stake in shares of Tectonic Therapeutic in the 4th quarter valued at about $468,000. Commonwealth Equity Services LLC acquired a new stake in shares of Tectonic Therapeutic in the 4th quarter valued at about $231,000. Charles Schwab Investment Management Inc. bought a new position in shares of Tectonic Therapeutic during the fourth quarter worth about $218,000. Finally, Raymond James Financial Inc. acquired a new position in Tectonic Therapeutic in the fourth quarter worth about $228,000. Institutional investors and hedge funds own 62.63% of the company's stock.

Tectonic Therapeutic Stock Up 7.2 %

NASDAQ TECX traded up $1.41 during trading hours on Friday, hitting $21.07. The company had a trading volume of 220,779 shares, compared to its average volume of 174,320. The firm has a market cap of $393.42 million, a P/E ratio of -3.60 and a beta of 2.87. Tectonic Therapeutic has a fifty-two week low of $13.70 and a fifty-two week high of $61.07. The business has a fifty day simple moving average of $20.27 and a 200-day simple moving average of $34.92.

Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) last released its quarterly earnings data 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. Equities analysts forecast that Tectonic Therapeutic will post -8.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, CFO Daniel Lochner acquired 4,617 shares of the business's stock in a transaction that occurred on Wednesday, February 5th. The shares were acquired at an average cost of $54.14 per share, for a total transaction of $249,964.38. Following the completion of the purchase, the chief financial officer now directly owns 4,617 shares in the company, valued at $249,964.38. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Timothy A. Springer bought 129,294 shares of the firm's stock in a transaction that occurred on Wednesday, February 5th. The stock was 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 in the company, valued at $228,798,780.12. This represents a 3.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 234,607 shares of company stock valued at $8,955,655. Insiders own 9.20% 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.