Tectonic Therapeutic (NASDAQ:TECX) Shares Sold by Boothbay Fund Management LLC

Boothbay Fund Management LLC decreased its holdings in shares of Tectonic Therapeutic (NASDAQ:TECX - Free Report) by 45.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 41,307 shares of the company's stock after selling 34,337 shares during the quarter. Boothbay Fund Management LLC owned about 0.28% of Tectonic Therapeutic worth $1,907,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its position in shares of Tectonic Therapeutic by 5,554.5% during the fourth 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 during the last quarter. Virtus ETF Advisers LLC purchased a new position in shares of Tectonic Therapeutic during the fourth quarter worth $71,000. China Universal Asset Management Co. Ltd. purchased a new position in shares of Tectonic Therapeutic during the fourth quarter worth $144,000. Charles Schwab Investment Management Inc. acquired a new stake in shares of Tectonic Therapeutic in the fourth quarter valued at $218,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Tectonic Therapeutic in the 4th quarter valued at $228,000. Hedge funds and other institutional investors own 62.63% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TECX. Mizuho began coverage on Tectonic Therapeutic in a research report on Monday, April 21st. They issued an "outperform" rating and a $51.00 target price for the company. Wells Fargo & Company reduced their target price on shares of Tectonic Therapeutic from $112.00 to $101.00 and set an "overweight" rating on the stock in a report on Friday, March 21st. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Tectonic Therapeutic presently has a consensus rating of "Buy" and a consensus price target of $72.40.

Insider Buying and Selling

In related news, Director Timothy A. Springer purchased 3,718 shares of the business's stock in a transaction dated Wednesday, April 9th. The stock was acquired at an average price of $14.76 per share, for a total transaction of $54,877.68. Following the completion of the purchase, the director now directly owns 4,317,276 shares of the company's stock, valued at $63,722,993.76. This trade represents a 0.09 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Daniel Lochner acquired 4,617 shares of the company's stock in a transaction on Wednesday, February 5th. The stock was purchased 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 position. The disclosure for this purchase can be found here. Insiders have purchased 234,607 shares of company stock worth $8,955,655 in the last ninety days. 9.20% of the stock is owned by corporate insiders.

Tectonic Therapeutic Stock Up 10.6 %

Tectonic Therapeutic stock traded up $2.09 during trading on Friday, reaching $21.75. The stock had a trading volume of 309,495 shares, compared to its average volume of 174,709. Tectonic Therapeutic has a 52-week low of $13.70 and a 52-week high of $61.07. The business has a 50 day moving average price of $20.17 and a 200 day moving average price of $34.83. The stock has a market cap of $406.09 million, a PE ratio of -3.69 and a beta of 2.87.

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

Tectonic Therapeutic Company 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.