31,841 Shares in Tectonic Therapeutic (NASDAQ:TECX) Acquired by Soleus Capital Management L.P.

Soleus Capital Management L.P. bought a new position in shares of Tectonic Therapeutic (NASDAQ:TECX - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 31,841 shares of the company's stock, valued at approximately $1,470,000. Soleus Capital Management L.P. owned about 0.22% of Tectonic Therapeutic as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Paradigm Biocapital Advisors LP acquired a new stake in shares of Tectonic Therapeutic during the fourth quarter worth $22,397,000. Farallon Capital Management LLC raised its holdings in Tectonic Therapeutic by 37.0% during the fourth quarter. Farallon Capital Management LLC now owns 713,050 shares of the company's stock worth $32,922,000 after acquiring an additional 192,653 shares in the last quarter. Invesco Ltd. bought a new stake in Tectonic Therapeutic during the fourth quarter worth about $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 acquiring an additional 103,698 shares in the last quarter. Finally, 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 acquiring an additional 66,527 shares in the last quarter. Institutional investors own 62.63% of the company's stock.

Insider Activity

In other news, Director Timothy A. Springer bought 87,500 shares of the firm's stock in a transaction dated Monday, April 7th. The shares were bought at an average price of $17.10 per share, with a total value of $1,496,250.00. Following the completion of the transaction, the director now owns 4,313,558 shares of the company's stock, valued at $73,761,841.80. This trade represents a 2.07% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders have bought 100,696 shares of company stock valued at $1,705,714. 38.00% of the stock is owned by insiders.

Tectonic Therapeutic Stock Down 2.5%

Shares of Tectonic Therapeutic stock traded down $0.55 on Friday, hitting $21.65. The stock had a trading volume of 109,014 shares, compared to its average volume of 175,282. Tectonic Therapeutic has a twelve month low of $13.70 and a twelve month high of $61.07. The business's 50 day moving average is $19.36 and its two-hundred day moving average is $33.02. The stock has a market cap of $404.27 million, a price-to-earnings ratio of -3.68 and a beta of 3.44.

Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) last posted its 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, equities analysts predict that Tectonic Therapeutic will post -8.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TECX has been the topic of several research analyst reports. Wells Fargo & Company dropped their price objective 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. Mizuho upped their price objective on Tectonic Therapeutic from $51.00 to $85.00 and gave the company an "outperform" rating in a research note on Thursday, May 15th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Tectonic Therapeutic currently has a consensus rating of "Buy" and a consensus target price of $79.20.

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.