Jump Financial LLC Purchases New Position in Tectonic Therapeutic, Inc. $TECX

Jump Financial LLC acquired a new position 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 Securities and Exchange Commission. The fund acquired 21,126 shares of the company's stock, valued at approximately $374,000. Jump Financial LLC owned 0.11% of Tectonic Therapeutic as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in TECX. Paradigm Biocapital Advisors LP bought a new position in shares of Tectonic Therapeutic during the 4th quarter worth about $22,397,000. Farallon Capital Management LLC increased its holdings in shares of Tectonic Therapeutic by 37.0% during the 4th quarter. Farallon Capital Management LLC now owns 713,050 shares of the company's stock worth $32,922,000 after purchasing an additional 192,653 shares during the period. Balyasny Asset Management L.P. boosted its stake in Tectonic Therapeutic by 36.9% during the fourth quarter. Balyasny Asset Management L.P. now owns 247,000 shares of the company's stock worth $11,404,000 after buying an additional 66,527 shares in the last quarter. Woodline Partners LP boosted its stake in Tectonic Therapeutic by 98.8% during the fourth quarter. Woodline Partners LP now owns 130,109 shares of the company's stock worth $6,007,000 after buying an additional 64,661 shares in the last quarter. Finally, Windmill Hill Asset Management Ltd acquired a new stake in Tectonic Therapeutic during the first quarter worth $709,000. Institutional investors own 62.63% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on TECX shares. Truist Financial initiated coverage on shares of Tectonic Therapeutic in a research note on Monday, July 21st. They set a "buy" rating and a $64.00 price target on the stock. Lifesci Capital assumed coverage on shares of Tectonic Therapeutic in a research note on Friday, June 6th. They set an "outperform" rating and a $87.00 price objective on the stock. Mizuho upped their price objective 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 cut shares of Tectonic Therapeutic from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Finally, Raymond James Financial assumed coverage on Tectonic Therapeutic in a report on Wednesday, June 11th. They issued an "outperform" rating and a $76.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $80.29.

Tectonic Therapeutic Stock Performance

NASDAQ:TECX traded down $0.47 on Friday, hitting $16.80. 683,688 shares of the stock were exchanged, compared to its average volume of 409,456. The company's 50-day moving average price is $22.32 and its 200 day moving average price is $21.58. Tectonic Therapeutic, Inc. has a 52 week low of $13.70 and a 52 week high of $61.07. The stock has a market capitalization of $314.33 million, a price-to-earnings ratio of -4.16 and a beta of 3.42.

Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) last announced its quarterly earnings data 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). As a group, equities research analysts predict that Tectonic Therapeutic, Inc. will post -8.31 earnings per share for the current 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.