Jane Street Group LLC Makes New Investment in Tectonic Therapeutic (NASDAQ:TECX)

Jane Street Group LLC bought a new stake in shares of Tectonic Therapeutic (NASDAQ:TECX - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 29,702 shares of the company's stock, valued at approximately $1,371,000. Jane Street Group LLC owned 0.20% of Tectonic Therapeutic at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Invesco Ltd. purchased a new stake in Tectonic Therapeutic during the 4th quarter valued at approximately $5,918,000. Susquehanna International Group LLP boosted its position in shares of Tectonic Therapeutic by 165.2% during the fourth quarter. Susquehanna International Group LLP now owns 166,452 shares of the company's stock worth $7,685,000 after acquiring an additional 103,698 shares during the last quarter. Artia Global Partners LP purchased a new position in Tectonic Therapeutic during the fourth quarter valued at $769,000. Barclays PLC increased its holdings in Tectonic Therapeutic by 1,008.5% in the 4th quarter. Barclays PLC now owns 15,974 shares of the company's stock valued at $737,000 after acquiring an additional 14,533 shares during the last quarter. Finally, Clarius Group LLC bought a new stake in Tectonic Therapeutic in the 4th quarter valued at $468,000. Institutional investors own 62.63% of the company's stock.

Tectonic Therapeutic Stock Performance

Shares of NASDAQ:TECX traded down $0.55 on Friday, reaching $21.65. The company's stock had a trading volume of 109,014 shares, compared to its average volume of 175,282. The company has a 50-day simple moving average of $19.36 and a 200 day simple moving average of $32.85. Tectonic Therapeutic has a 52-week low of $13.70 and a 52-week high of $61.07. The company has a market cap of $404.27 million, a P/E ratio of -3.68 and a beta of 3.44.

Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.93) EPS for the quarter, topping the consensus estimate of ($1.10) by $0.17. On average, equities research analysts forecast that Tectonic Therapeutic will post -8.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TECX has been the subject of several research reports. Wells Fargo & Company dropped their price objective on shares of Tectonic Therapeutic from $112.00 to $101.00 and set an "overweight" rating for the company in a report on Friday, March 21st. Mizuho boosted their target price on Tectonic Therapeutic from $51.00 to $85.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Tectonic Therapeutic has an average rating of "Buy" and a consensus price target of $79.20.

Insider Activity

In other news, Director Timothy A. Springer purchased 87,500 shares of the company's stock in a transaction that occurred on Monday, April 7th. The stock was purchased at an average cost of $17.10 per share, with a total value of $1,496,250.00. Following the purchase, the director now owns 4,313,558 shares in the company, valued at approximately $73,761,841.80. This trade represents a 2.07% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders have purchased 100,696 shares of company stock valued at $1,705,714. 38.00% of the stock is currently owned by insiders.

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.