13,212 Shares in Tectonic Therapeutic, Inc. (NASDAQ:TECX) Bought by Y Intercept Hong Kong Ltd

Key Points

• Y Intercept Hong Kong Ltd made a new investment of approximately $234,000 in Tectonic Therapeutic, acquiring 13,212 shares, which represents about 0.07% of the company.
• Several large institutional investors have significantly increased their holdings in Tectonic Therapeutic, with JPMorgan Chase & Co. raising its stake by 5,554.5%.
• Analysts have mixed views on Tectonic Therapeutic, with a consensus rating of "Moderate Buy" and target prices ranging from $64 to $87, reflecting potential upside from its current trading price of around $22.52.

Y Intercept Hong Kong Ltd acquired a new position in Tectonic Therapeutic, Inc. (NASDAQ:TECX - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 13,212 shares of the company's stock, valued at approximately $234,000. Y Intercept Hong Kong Ltd owned approximately 0.07% of Tectonic Therapeutic at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of TECX. JPMorgan Chase & Co. boosted 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 valued at $57,000 after acquiring an additional 1,222 shares during the period. Virtus ETF Advisers LLC bought a new position in Tectonic Therapeutic during the 4th quarter valued at approximately $71,000. Charles Schwab Investment Management Inc. bought a new position in Tectonic Therapeutic during the 4th quarter valued at approximately $218,000. Raymond James Financial Inc. bought a new position in Tectonic Therapeutic during the 4th quarter valued at approximately $228,000. Finally, Commonwealth Equity Services LLC bought a new position in Tectonic Therapeutic during the 4th quarter valued at approximately $231,000. 62.63% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TECX has been the subject of several research reports. Raymond James Financial initiated coverage on Tectonic Therapeutic in a research report on Wednesday, June 11th. They issued an "outperform" rating and a $76.00 target price for the company. Lifesci Capital initiated coverage on Tectonic Therapeutic in a research report on Friday, June 6th. They issued an "outperform" rating and a $87.00 target price for the company. Truist Financial initiated coverage on Tectonic Therapeutic in a research report on Monday, July 21st. They issued a "buy" rating and a $64.00 target price for the company. Mizuho increased their target price on Tectonic Therapeutic from $51.00 to $85.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. Finally, Wall Street Zen lowered Tectonic Therapeutic from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. One analyst has rated the stock with a sell rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $80.33.

Tectonic Therapeutic Trading Up 1.9%

TECX traded up $0.40 during trading on Monday, hitting $21.13. 57,231 shares of the company's stock traded hands, compared to its average volume of 269,200. The company's 50 day simple moving average is $21.75 and its two-hundred day simple moving average is $24.29. Tectonic Therapeutic, Inc. has a 12-month low of $13.70 and a 12-month high of $61.07. The stock has a market capitalization of $394.50 million, a price-to-earnings ratio of -2.89 and a beta of 3.27.

Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) last issued 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. On average, equities analysts expect that Tectonic Therapeutic, Inc. will post -8.31 EPS 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.