40,000 Shares in Tectonic Therapeutic, Inc. (NASDAQ:TECX) Bought by Knott David M Jr

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 purchased a new stake in Tectonic Therapeutic, Inc. (NASDAQ:TECX - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 40,000 shares of the company's stock, valued at approximately $708,000. Knott David M Jr owned about 0.21% of Tectonic Therapeutic at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in TECX. Millennium Management LLC bought a new position in shares of Tectonic Therapeutic during the fourth quarter worth about $1,329,000. Jane Street Group LLC acquired a new position in shares of Tectonic Therapeutic in the 4th quarter worth approximately $1,371,000. Ameriprise Financial Inc. bought a new stake in shares of Tectonic Therapeutic in the 4th quarter valued at $347,000. Barclays PLC increased its position in shares of Tectonic Therapeutic by 1,008.5% during the fourth quarter. Barclays PLC now owns 15,974 shares of the company's stock worth $737,000 after buying an additional 14,533 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Tectonic Therapeutic during the fourth quarter worth $228,000. Institutional investors own 62.63% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on TECX shares. Wall Street Zen cut shares of Tectonic Therapeutic from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. Raymond James Financial initiated coverage on Tectonic Therapeutic in a research report on Wednesday, June 11th. They set an "outperform" rating and a $76.00 target price on the stock. Truist Financial began coverage on Tectonic Therapeutic in a report on Monday, July 21st. They issued a "buy" rating and a $64.00 target price for the company. Lifesci Capital started coverage on Tectonic Therapeutic in a research note on Friday, June 6th. They issued an "outperform" rating and a $87.00 price target on the stock. Finally, Mizuho raised their price objective on shares of Tectonic Therapeutic from $51.00 to $85.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $80.33.

Tectonic Therapeutic Trading Up 1.8%

Tectonic Therapeutic stock opened at $22.31 on Monday. The firm has a market capitalization of $416.59 million, a price-to-earnings ratio of -5.52 and a beta of 3.27. The firm's fifty day moving average price is $21.80 and its two-hundred day moving average price is $23.61. Tectonic Therapeutic, Inc. has a 1-year low of $13.70 and a 1-year 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, research analysts forecast that Tectonic Therapeutic, Inc. will post -8.31 EPS 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.

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