5AM Venture Management LLC Has $9.06 Million Holdings in Tectonic Therapeutic, Inc. $TECX

Key Points

• 5AM Venture Management LLC reduced its stake in Tectonic Therapeutic by 14.2%, now holding approximately 2.74% of the company worth about $9.06 million.
• JPMorgan Chase & Co. significantly increased its holdings in Tectonic Therapeutic by 5,554.5%, while several other institutional investors also acquired new stakes in the company during the 4th quarter.
• Mizuho raised its price target for Tectonic Therapeutic to $85.00, highlighting a positive outlook, while Wall Street Zen downgraded the stock to a "sell" rating amid mixed analyst opinions.

5AM Venture Management LLC cut its holdings in shares of Tectonic Therapeutic, Inc. (NASDAQ:TECX - Free Report) by 14.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 511,660 shares of the company's stock after selling 85,000 shares during the period. Tectonic Therapeutic comprises approximately 3.4% of 5AM Venture Management LLC's holdings, making the stock its 11th largest holding. 5AM Venture Management LLC owned approximately 2.74% of Tectonic Therapeutic worth $9,061,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. JPMorgan Chase & Co. raised its stake in shares of Tectonic Therapeutic by 5,554.5% in the fourth quarter. JPMorgan Chase & Co. now owns 1,244 shares of the company's stock worth $57,000 after acquiring an additional 1,222 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Tectonic Therapeutic in the fourth quarter worth about $228,000. Barclays PLC raised its stake in shares of Tectonic Therapeutic by 1,008.5% in the fourth quarter. Barclays PLC now owns 15,974 shares of the company's stock worth $737,000 after acquiring an additional 14,533 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Tectonic Therapeutic by 10.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 26,264 shares of the company's stock worth $1,213,000 after acquiring an additional 2,409 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of Tectonic Therapeutic by 52.2% in the fourth quarter. Northern Trust Corp now owns 14,682 shares of the company's stock worth $678,000 after acquiring an additional 5,037 shares during the last quarter. 62.63% of the stock is currently owned by institutional investors.

Tectonic Therapeutic Trading Down 2.7%

Shares of NASDAQ:TECX traded down $0.47 during midday trading on Friday, hitting $16.80. The company had a trading volume of 683,688 shares, compared to its average volume of 409,456. Tectonic Therapeutic, Inc. has a 12 month low of $13.70 and a 12 month high of $61.07. The stock has a market cap of $314.33 million, a price-to-earnings ratio of -4.16 and a beta of 3.42. The firm has a fifty day simple moving average of $22.32 and a 200 day simple moving average of $21.58.

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

Analysts Set New Price Targets

TECX has been the topic of a number of recent research reports. Raymond James Financial initiated coverage on Tectonic Therapeutic in a research report on Wednesday, June 11th. They issued an "outperform" rating and a $76.00 price objective on the stock. Wall Street Zen lowered Tectonic Therapeutic from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. Lifesci Capital initiated coverage on Tectonic Therapeutic in a research report on Friday, June 6th. They issued an "outperform" rating and a $87.00 price objective on the stock. Mizuho increased their price objective on Tectonic Therapeutic from $51.00 to $85.00 and gave the company an "outperform" rating in a research report on Thursday, May 15th. Finally, Oppenheimer initiated coverage on Tectonic Therapeutic in a research report on Wednesday. They issued an "outperform" rating and a $80.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $80.29.

Tectonic Therapeutic 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.