Millennium Management LLC bought a new stake in Tectonic Therapeutic (NASDAQ:TECX - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 28,793 shares of the company's stock, valued at approximately $1,329,000. Millennium Management LLC owned approximately 0.20% of Tectonic Therapeutic as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in TECX. Farallon Capital Management LLC raised its holdings in Tectonic Therapeutic by 37.0% in the fourth quarter. Farallon Capital Management LLC now owns 713,050 shares of the company's stock valued at $32,922,000 after acquiring an additional 192,653 shares in the last quarter. Invesco Ltd. acquired a new stake in Tectonic Therapeutic in the fourth quarter valued at approximately $5,918,000. Susquehanna International Group LLP raised its holdings in 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 purchasing an additional 103,698 shares in the last quarter. Balyasny Asset Management L.P. raised its holdings in Tectonic Therapeutic by 36.9% during the fourth quarter. Balyasny Asset Management L.P. now owns 247,000 shares of the company's stock worth $11,404,000 after purchasing an additional 66,527 shares in the last quarter. Finally, Jane Street Group LLC acquired a new stake in Tectonic Therapeutic during the fourth quarter worth approximately $1,371,000. Institutional investors and hedge funds own 62.63% of the company's stock.
Insider Activity at Tectonic Therapeutic
In other news, Director Timothy A. Springer acquired 3,718 shares of the stock in a transaction that occurred on Wednesday, April 9th. The shares were purchased at an average cost of $14.76 per share, for a total transaction of $54,877.68. Following the transaction, the director now directly owns 4,317,276 shares in the company, valued at approximately $63,722,993.76. This represents a 0.09% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have bought a total of 100,696 shares of company stock worth $1,705,714 in the last three months. Insiders own 38.00% of the company's stock.
Tectonic Therapeutic Trading Down 0.9%
Shares of Tectonic Therapeutic stock traded down $0.21 during trading on Thursday, reaching $22.45. The company's stock had a trading volume of 93,452 shares, compared to its average volume of 173,246. The company has a 50-day moving average price of $19.62 and a two-hundred day moving average price of $31.77. The firm has a market cap of $419.21 million, a PE ratio of -3.81 and a beta of 3.25. Tectonic Therapeutic has a fifty-two week low of $13.70 and a fifty-two week high of $61.07.
Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.93) EPS for the quarter, beating analysts' consensus estimates of ($1.10) by $0.17. On average, analysts predict that Tectonic Therapeutic will post -8.31 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
TECX has been the topic of a number of research analyst reports. 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 report on Thursday, May 15th. Wells Fargo & Company cut their price objective on shares of Tectonic Therapeutic from $112.00 to $101.00 and set an "overweight" rating on the stock in a report on Friday, March 21st. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Tectonic Therapeutic has a consensus rating of "Buy" and a consensus target price of $79.20.
Check Out Our Latest Stock Report on TECX
About Tectonic Therapeutic
(
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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