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.
Check Out Our Latest Report on TECX
Tectonic Therapeutic Company 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.
See Also

Before you consider Tectonic Therapeutic, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Tectonic Therapeutic wasn't on the list.
While Tectonic Therapeutic currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Discover the next wave of investment opportunities with our report, 7 Stocks That Will Be Magnificent in 2025. Explore companies poised to replicate the growth, innovation, and value creation of the tech giants dominating today's markets.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.