Millennium Management LLC bought a new position in Tectonic Therapeutic (NASDAQ:TECX - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 28,793 shares of the company's stock, valued at approximately $1,329,000. Millennium Management LLC owned about 0.20% of Tectonic Therapeutic as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of TECX. Walleye Capital LLC increased its stake in Tectonic Therapeutic by 0.8% in the 4th quarter. Walleye Capital LLC now owns 73,517 shares of the company's stock worth $3,394,000 after purchasing an additional 555 shares in the last quarter. Geode Capital Management LLC increased its stake in Tectonic Therapeutic by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 77,584 shares of the company's stock worth $3,584,000 after purchasing an additional 705 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Tectonic Therapeutic by 5,554.5% in the 4th quarter. JPMorgan Chase & Co. now owns 1,244 shares of the company's stock worth $57,000 after purchasing an additional 1,222 shares in the last quarter. Virtus ETF Advisers LLC purchased a new position in Tectonic Therapeutic in the 4th quarter worth about $71,000. Finally, Schonfeld Strategic Advisors LLC increased its stake in Tectonic Therapeutic by 15.6% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 17,345 shares of the company's stock worth $801,000 after purchasing an additional 2,345 shares in the last quarter. 62.63% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities analysts recently weighed in on TECX shares. Mizuho lifted their price target on Tectonic Therapeutic from $51.00 to $85.00 and gave the stock an "outperform" rating in a research note on Thursday, May 15th. Lifesci Capital started coverage on Tectonic Therapeutic in a research note on Friday. They issued an "outperform" rating and a $87.00 price target on the stock. Finally, Wells Fargo & Company dropped their price target on Tectonic Therapeutic from $112.00 to $101.00 and set an "overweight" rating on the stock in a research note on Friday, March 21st. Six research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Tectonic Therapeutic currently has an average rating of "Buy" and an average price target of $80.50.
View Our Latest Analysis on TECX
Tectonic Therapeutic Stock Performance
Shares of NASDAQ TECX traded up $0.61 during trading hours on Friday, hitting $23.06. The stock had a trading volume of 186,299 shares, compared to its average volume of 173,301. The company has a market capitalization of $430.60 million, a P/E ratio of -3.92 and a beta of 3.25. The firm's 50-day moving average price is $19.84 and its two-hundred day moving average price is $31.54. Tectonic Therapeutic has a 52 week low of $13.70 and a 52 week high of $61.07.
Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.93) EPS for the quarter, beating the consensus estimate of ($1.10) by $0.17. As a group, analysts expect that Tectonic Therapeutic will post -8.31 EPS for the current fiscal year.
Insider Activity at Tectonic Therapeutic
In related news, Director Timothy A. Springer bought 3,718 shares of the firm's stock in a transaction on Wednesday, April 9th. The stock was purchased at an average price of $14.76 per share, with a total value of $54,877.68. Following the completion of the transaction, the director now directly owns 4,317,276 shares of the company's stock, valued at $63,722,993.76. This trade represents a 0.09% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last quarter, insiders bought 100,696 shares of company stock valued at $1,705,714. 38.00% of the stock is owned by corporate insiders.
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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