Woodline Partners LP Has $5.35 Million Stock Holdings in Tectonic Therapeutic, Inc. $TECX

Key Points

• Woodline Partners LP increased its stake in Tectonic Therapeutic, Inc. by 132.3% in Q1, owning 302,215 shares valued at approximately $5.35 million.
• Multiple analysts have set optimistic price targets for Tectonic Therapeutic, with estimates ranging from $64.00 to $87.00, reflecting a strong consensus "Buy" rating.
• Despite the positive outlook, Tectonic Therapeutic reported a loss, with earnings per share of ($1.07) in its latest quarter, missing analyst expectations.

Woodline Partners LP grew its position in shares of Tectonic Therapeutic, Inc. (NASDAQ:TECX - Free Report) by 132.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 302,215 shares of the company's stock after purchasing an additional 172,106 shares during the quarter. Woodline Partners LP owned approximately 1.62% of Tectonic Therapeutic worth $5,352,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its stake in shares of Tectonic Therapeutic by 10.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 26,264 shares of the company's stock valued at $1,213,000 after purchasing an additional 2,409 shares in the last quarter. ADAR1 Capital Management LLC boosted its stake in shares of Tectonic Therapeutic by 6.6% during the first quarter. ADAR1 Capital Management LLC now owns 62,603 shares of the company's stock valued at $1,109,000 after purchasing an additional 3,895 shares in the last quarter. Northern Trust Corp raised its position in shares of Tectonic Therapeutic by 52.2% during the fourth quarter. Northern Trust Corp now owns 14,682 shares of the company's stock worth $678,000 after acquiring an additional 5,037 shares during the last quarter. Jefferies Financial Group Inc. bought a new position in shares of Tectonic Therapeutic during the fourth quarter worth about $249,000. Finally, Ameriprise Financial Inc. bought a new position in shares of Tectonic Therapeutic during the fourth quarter worth about $347,000. 62.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TECX has been the subject of a number of analyst reports. Raymond James Financial initiated coverage on Tectonic Therapeutic in a research report on Wednesday, June 11th. They set an "outperform" rating and a $76.00 price objective for the company. Lifesci Capital initiated coverage on Tectonic Therapeutic in a research report on Friday, June 6th. They set an "outperform" rating and a $87.00 price objective for the company. Oppenheimer initiated coverage on Tectonic Therapeutic in a research report on Wednesday, September 3rd. They set an "outperform" rating and a $80.00 price objective for the company. Truist Financial initiated coverage on Tectonic Therapeutic in a research report on Monday, July 21st. They set a "buy" rating and a $64.00 price objective for the company. Finally, Wall Street Zen downgraded Tectonic Therapeutic from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. One investment analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $80.29.

Tectonic Therapeutic Stock Performance

Shares of TECX stock opened at $17.72 on Friday. The company has a market cap of $331.54 million, a P/E ratio of -4.39 and a beta of 3.42. The stock has a 50 day simple moving average of $21.96 and a two-hundred day simple moving average of $21.17. Tectonic Therapeutic, Inc. 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 issued its earnings results on Thursday, August 7th. The company reported ($1.07) earnings per share for the quarter, missing analysts' consensus estimates of ($0.98) by ($0.09). On average, research analysts predict that Tectonic Therapeutic, Inc. will post -8.31 earnings per share for the current year.

About Tectonic Therapeutic

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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