Woodline Partners LP Purchases 64,661 Shares of Tectonic Therapeutic (NASDAQ:TECX)

Woodline Partners LP boosted its holdings in shares of Tectonic Therapeutic (NASDAQ:TECX - Free Report) by 98.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 130,109 shares of the company's stock after buying an additional 64,661 shares during the period. Woodline Partners LP owned about 0.88% of Tectonic Therapeutic worth $6,007,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Walleye Capital LLC raised its holdings in shares of Tectonic Therapeutic by 0.8% in the fourth quarter. Walleye Capital LLC now owns 73,517 shares of the company's stock valued at $3,394,000 after buying an additional 555 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Tectonic Therapeutic by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 77,584 shares of the company's stock valued at $3,584,000 after buying an additional 705 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Tectonic Therapeutic by 5,554.5% in the fourth quarter. JPMorgan Chase & Co. now owns 1,244 shares of the company's stock valued at $57,000 after buying an additional 1,222 shares during the last quarter. Virtus ETF Advisers LLC bought a new position in shares of Tectonic Therapeutic in the fourth quarter valued at about $71,000. Finally, Schonfeld Strategic Advisors LLC raised its holdings in shares of Tectonic Therapeutic by 15.6% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 17,345 shares of the company's stock valued at $801,000 after buying an additional 2,345 shares during the last quarter. Institutional investors and hedge funds own 62.63% of the company's stock.

Tectonic Therapeutic Stock Performance

TECX traded down $0.10 during trading hours on Tuesday, reaching $21.55. The company's stock had a trading volume of 105,274 shares, compared to its average volume of 174,981. Tectonic Therapeutic has a 52 week low of $13.70 and a 52 week high of $61.07. The company's 50-day moving average is $19.35 and its 200-day moving average is $32.70. The firm has a market cap of $402.40 million, a PE ratio of -3.66 and a beta of 3.44.

Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.93) earnings per share for the quarter, beating analysts' consensus estimates of ($1.10) by $0.17. Equities analysts anticipate that Tectonic Therapeutic will post -8.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Mizuho boosted their price objective on Tectonic Therapeutic from $51.00 to $85.00 and gave the stock an "outperform" rating in a report on Thursday, May 15th. Wells Fargo & Company decreased their price objective on Tectonic Therapeutic from $112.00 to $101.00 and set an "overweight" rating for the company in a research report on Friday, March 21st. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $79.20.

Insiders Place Their Bets

In other news, Director Timothy A. Springer acquired 3,718 shares of the stock in a transaction on Wednesday, April 9th. The shares were purchased at an average price of $14.76 per share, for a total transaction of $54,877.68. Following the transaction, the director now directly owns 4,317,276 shares of the company's stock, valued at approximately $63,722,993.76. This represents a 0.09% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have bought 100,696 shares of company stock worth $1,705,714 in the last 90 days. Company insiders own 38.00% of the company's stock.

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.