Cliffwater LLC Takes Position 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 purchased a new position in shares of Tectonic Therapeutic, Inc. (NASDAQ:TECX - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 15,369 shares of the company's stock, valued at approximately $272,000. Tectonic Therapeutic comprises about 0.1% of Cliffwater LLC's investment portfolio, making the stock its 16th largest position. Cliffwater LLC owned 0.08% of Tectonic Therapeutic as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. American Century Companies Inc. acquired a new position in shares of Tectonic Therapeutic during the 1st quarter worth about $214,000. Knott David M Jr acquired a new position in shares of Tectonic Therapeutic during the 1st quarter worth about $708,000. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Tectonic Therapeutic by 139.2% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 34,645 shares of the company's stock worth $614,000 after purchasing an additional 20,160 shares during the last quarter. Windmill Hill Asset Management Ltd acquired a new position in shares of Tectonic Therapeutic during the 1st quarter worth about $709,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Tectonic Therapeutic during the 1st quarter worth about $234,000. Institutional investors and hedge funds own 62.63% of the company's stock.

Tectonic Therapeutic Stock Performance

Shares of TECX stock traded up $1.32 on Thursday, hitting $25.40. 197,501 shares of the stock traded hands, compared to its average volume of 265,409. The firm's 50-day moving average price is $21.78 and its two-hundred day moving average price is $22.87. The stock has a market capitalization of $475.23 million, a PE ratio of -6.29 and a beta of 3.27. Tectonic Therapeutic, Inc. has a twelve month low of $13.70 and a twelve month high of $61.07.

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 for the quarter, missing the consensus estimate of ($0.98) by ($0.09). On average, equities research analysts anticipate that Tectonic Therapeutic, Inc. will post -8.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TECX. Lifesci Capital began coverage on Tectonic Therapeutic in a report on Friday, June 6th. They issued an "outperform" rating and a $87.00 price objective on the stock. Mizuho raised their price target on shares of Tectonic Therapeutic from $51.00 to $85.00 and gave the stock an "outperform" rating in a research note on Thursday, May 15th. Wall Street Zen lowered shares of Tectonic Therapeutic from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. Raymond James Financial started coverage on shares of Tectonic Therapeutic in a report on Wednesday, June 11th. They issued an "outperform" rating and a $76.00 price objective for the company. Finally, Truist Financial assumed coverage on shares of Tectonic Therapeutic in a research note on Monday, July 21st. They issued a "buy" rating and a $64.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average 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.