Cliffwater LLC Invests $272,000 in Tectonic Therapeutic, Inc. $TECX

Key Points

• Cliffwater LLC acquired 15,369 shares of Tectonic Therapeutic, Inc. (NASDAQ: TECX) valued at approximately $272,000, making it the firm's 16th largest holding.
• The stock's analyst ratings are mixed, with one firm rating it a "sell," while several others have given it "buy" or "outperform" ratings and a consensus price target of $80.33.
• Tectonic Therapeutic reported an EPS of ($1.07) for the last quarter, missing estimates, and analysts anticipate a projected EPS of -8.31 for the current year.

Cliffwater LLC acquired a new stake in shares of Tectonic Therapeutic, Inc. (NASDAQ:TECX - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 15,369 shares of the company's stock, valued at approximately $272,000. Tectonic Therapeutic makes up approximately 0.1% of Cliffwater LLC's holdings, making the stock its 16th biggest position. Cliffwater LLC owned 0.08% of Tectonic Therapeutic at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in TECX. JPMorgan Chase & Co. grew 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 purchasing an additional 1,222 shares during the last quarter. Virtus ETF Advisers LLC bought a new position in shares of Tectonic Therapeutic during the 4th quarter valued at $71,000. American Century Companies Inc. bought a new position in shares of Tectonic Therapeutic during the 1st quarter valued at $214,000. Raymond James Financial Inc. bought a new position in shares of Tectonic Therapeutic during the 4th quarter valued at $228,000. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Tectonic Therapeutic during the 1st quarter valued at $234,000. Hedge funds and other institutional investors own 62.63% of the company's stock.

Tectonic Therapeutic Price Performance

Tectonic Therapeutic stock traded up $0.78 during trading hours on Friday, reaching $26.18. The stock had a trading volume of 258,822 shares, compared to its average volume of 226,108. The stock has a market cap of $489.83 million, a PE ratio of -6.48 and a beta of 3.27. Tectonic Therapeutic, Inc. has a 52 week low of $13.70 and a 52 week high of $61.07. The company has a fifty day simple moving average of $21.92 and a 200-day simple moving average of $22.55.

Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($1.07) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.98) by ($0.09). Research analysts predict that Tectonic Therapeutic, Inc. will post -8.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Mizuho increased their target price on shares of Tectonic Therapeutic from $51.00 to $85.00 and gave the company an "outperform" rating in a report on Thursday, May 15th. Wall Street Zen lowered shares of Tectonic Therapeutic from a "hold" rating to a "sell" rating in a report on Saturday, July 26th. Truist Financial initiated coverage on shares of Tectonic Therapeutic in a report on Monday, July 21st. They set a "buy" rating and a $64.00 target price on the stock. Raymond James Financial initiated coverage on shares of Tectonic Therapeutic in a report on Wednesday, June 11th. They issued an "outperform" rating and a $76.00 price target on the stock. Finally, Lifesci Capital initiated coverage on shares of Tectonic Therapeutic in a report on Friday, June 6th. They issued an "outperform" rating and a $87.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. Based on data from MarketBeat, Tectonic Therapeutic has an average rating of "Buy" and a consensus price target of $80.33.

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.