5AM Venture Management LLC bought a new position in shares of Tectonic Therapeutic, Inc. (NASDAQ:TECX - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 606,660 shares of the company's stock, valued at approximately $20,853,938. Tectonic Therapeutic makes up about 0.0% of 5AM Venture Management LLC's portfolio, making the stock its 7th largest position. 5AM Venture Management LLC owned approximately 3.10% of Tectonic Therapeutic at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in TECX. Millennium Management LLC increased its position in shares of Tectonic Therapeutic by 726.4% during the first quarter. Millennium Management LLC now owns 237,938 shares of the company's stock worth $4,214,000 after acquiring an additional 209,145 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Tectonic Therapeutic by 331.1% during the first quarter. Goldman Sachs Group Inc. now owns 104,793 shares of the company's stock worth $1,856,000 after acquiring an additional 80,483 shares in the last quarter. Jane Street Group LLC increased its position in shares of Tectonic Therapeutic by 58.7% during the first quarter. Jane Street Group LLC now owns 47,145 shares of the company's stock worth $835,000 after acquiring an additional 17,443 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Tectonic Therapeutic by 242.5% during the second quarter. Geode Capital Management LLC now owns 272,257 shares of the company's stock worth $5,411,000 after acquiring an additional 192,770 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Tectonic Therapeutic by 483.6% during the second quarter. JPMorgan Chase & Co. now owns 6,548 shares of the company's stock worth $130,000 after acquiring an additional 5,426 shares in the last quarter. 62.63% of the stock is owned by institutional investors.
Tectonic Therapeutic Stock Performance
Shares of TECX stock opened at $35.62 on Friday. Tectonic Therapeutic, Inc. has a 52-week low of $14.39 and a 52-week high of $39.53. The company has a 50-day simple moving average of $33.16 and a two-hundred day simple moving average of $30.04. The company has a market capitalization of $696.37 million, a price-to-earnings ratio of -7.79 and a beta of 3.28.
Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($1.18) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.35) by $0.17. On average, sell-side analysts forecast that Tectonic Therapeutic, Inc. will post -5.25 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on TECX shares. Wall Street Zen raised shares of Tectonic Therapeutic from a "strong sell" rating to a "sell" rating in a research report on Saturday, August 8th. Raymond James Financial raised shares of Tectonic Therapeutic from an "outperform" rating to a "strong-buy" rating and boosted their target price for the stock from $76.00 to $81.00 in a research report on Tuesday, May 26th. Zacks Research raised shares of Tectonic Therapeutic from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 18th. Wells Fargo & Company decreased their target price on shares of Tectonic Therapeutic from $101.00 to $93.00 and set an "overweight" rating for the company in a research report on Friday, August 7th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Tectonic Therapeutic in a research report on Friday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $77.80.
View Our Latest Stock Report on Tectonic Therapeutic
Tectonic Therapeutic Profile
(
Free Report)
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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