Windmill Hill Asset Management Ltd Makes New Investment in Tectonic Therapeutic, Inc. (NASDAQ:TECX)

Key Points

• Windmill Hill Asset Management Ltd has acquired a new stake in Tectonic Therapeutic, Inc. (NASDAQ:TECX) totaling 40,023 shares, valued at approximately $709,000, making it the firm's 16th largest position.
• Tectonic Therapeutic reported an EPS of ($0.93) for the latest quarter, surpassing estimates by $0.17, with analysts predicting an average EPS of ($8.31) for the current year.
• Recent analyst reports have mixed ratings for TECX; while Wall Street Zen downgraded it to a "sell," Mizuho raised its target price to $85.00 and provided an "outperform" rating.

Windmill Hill Asset Management Ltd acquired a new stake in Tectonic Therapeutic, Inc. (NASDAQ:TECX - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 40,023 shares of the company's stock, valued at approximately $709,000. Tectonic Therapeutic makes up approximately 0.2% of Windmill Hill Asset Management Ltd's holdings, making the stock its 16th biggest position. Windmill Hill Asset Management Ltd owned 0.21% of Tectonic Therapeutic as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in TECX. JPMorgan Chase & Co. grew its holdings in Tectonic Therapeutic by 5,554.5% during the 4th quarter. JPMorgan Chase & Co. now owns 1,244 shares of the company's stock worth $57,000 after acquiring an additional 1,222 shares during the last quarter. Virtus ETF Advisers LLC bought a new position in shares of Tectonic Therapeutic in the 4th quarter valued at about $71,000. Charles Schwab Investment Management Inc. bought a new position in shares of Tectonic Therapeutic in the 4th quarter valued at about $218,000. Raymond James Financial Inc. bought a new position in shares of Tectonic Therapeutic in the 4th quarter valued at about $228,000. Finally, Commonwealth Equity Services LLC bought a new position in shares of Tectonic Therapeutic in the 4th quarter valued at about $231,000. Institutional investors own 62.63% of the company's stock.

Wall Street Analyst Weigh In

TECX has been the topic of several recent research reports. Mizuho raised their target price on shares of Tectonic Therapeutic from $51.00 to $85.00 and gave the company an "outperform" rating in a research note on Thursday, May 15th. Wall Street Zen lowered shares of Tectonic Therapeutic from a "hold" rating to a "sell" rating in a research note on Saturday. Lifesci Capital initiated coverage on shares of Tectonic Therapeutic in a research note on Friday, June 6th. They issued an "outperform" rating and a $87.00 target price on the stock. Raymond James Financial initiated coverage on shares of Tectonic Therapeutic in a research note on Wednesday, June 11th. They issued an "outperform" rating and a $76.00 target price on the stock. Finally, Truist Financial initiated coverage on shares of Tectonic Therapeutic in a research report on Monday, July 21st. They issued a "buy" rating and a $64.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Tectonic Therapeutic currently has an average rating of "Moderate Buy" and a consensus target price of $80.33.

Tectonic Therapeutic Price Performance

TECX stock traded up $0.71 during midday trading on Wednesday, reaching $23.02. 96,257 shares of the company were exchanged, compared to its average volume of 268,250. Tectonic Therapeutic, Inc. has a one year low of $13.70 and a one year high of $61.07. The business has a 50-day moving average price of $21.77 and a two-hundred day moving average price of $24.77. The firm has a market capitalization of $429.78 million, a price-to-earnings ratio of -3.15 and a beta of 3.17.

Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.93) earnings per share for the quarter, topping the consensus estimate of ($1.10) by $0.17. As a group, analysts anticipate that Tectonic Therapeutic, Inc. will post -8.31 earnings per share for the current fiscal year.

Tectonic Therapeutic 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.