Knott David M Jr Invests $708,000 in Tectonic Therapeutic, Inc. (NASDAQ:TECX)

Key Points

• Knott David M Jr purchased 40,000 shares of Tectonic Therapeutic, valued at approximately $708,000, bringing his total ownership to about 0.21% of the company.
• Several institutional investors have increased their positions in Tectonic Therapeutic, with combined investments exceeding $3 million during the fourth quarter.
• Tectonic Therapeutic has received mixed ratings from analysts, with a consensus rating of "Moderate Buy" and an average price target of $80.33.

Knott David M Jr acquired a new position in shares of Tectonic Therapeutic, Inc. (NASDAQ:TECX - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 40,000 shares of the company's stock, valued at approximately $708,000. Knott David M Jr owned 0.21% of Tectonic Therapeutic as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in Tectonic Therapeutic by 5,554.5% in 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 period. Virtus ETF Advisers LLC bought a new position in Tectonic Therapeutic during the fourth quarter valued at about $71,000. Raymond James Financial Inc. purchased a new stake in shares of Tectonic Therapeutic during the fourth quarter valued at $228,000. Y Intercept Hong Kong Ltd purchased a new stake in Tectonic Therapeutic in the 1st quarter worth about $234,000. Finally, Jefferies Financial Group Inc. acquired a new position in shares of Tectonic Therapeutic during the 4th quarter valued at about $249,000. Hedge funds and other institutional investors own 62.63% of the company's stock.

Tectonic Therapeutic Price Performance

Shares of TECX stock traded down $0.72 during midday trading on Friday, reaching $23.76. 72,522 shares of the company traded hands, compared to its average volume of 268,256. The firm's 50 day simple moving average is $21.78 and its two-hundred day simple moving average is $23.31. Tectonic Therapeutic, Inc. has a 1-year low of $13.70 and a 1-year high of $61.07. The firm has a market cap of $444.46 million, a PE ratio of -5.92 and a beta of 3.27.

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TECX. Wall Street Zen cut Tectonic Therapeutic from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. Truist Financial assumed coverage on Tectonic Therapeutic in a research report on Monday, July 21st. They set a "buy" rating and a $64.00 price objective for the company. Mizuho increased their target price on Tectonic Therapeutic from $51.00 to $85.00 and gave the company an "outperform" rating in a research report on Thursday, May 15th. Lifesci Capital initiated coverage on Tectonic Therapeutic in a research report on Friday, June 6th. They set an "outperform" rating and a $87.00 target price on the stock. Finally, Raymond James Financial began coverage on Tectonic Therapeutic in a report on Wednesday, June 11th. They set an "outperform" rating and a $76.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate 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.