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 purchased a new position in shares of Tectonic Therapeutic, Inc. (NASDAQ:TECX - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 13,212 shares of the company's stock, valued at approximately $234,000. Y Intercept Hong Kong Ltd owned about 0.07% of Tectonic Therapeutic as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Walleye Capital LLC raised its stake in shares of Tectonic Therapeutic by 0.8% during the 4th quarter. Walleye Capital LLC now owns 73,517 shares of the company's stock worth $3,394,000 after buying an additional 555 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Tectonic Therapeutic by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 77,584 shares of the company's stock worth $3,584,000 after buying an additional 705 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of 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 buying an additional 1,222 shares during the last quarter. Virtus ETF Advisers LLC purchased a new stake in Tectonic Therapeutic during the 4th quarter worth about $71,000. Finally, Schonfeld Strategic Advisors LLC increased its position in Tectonic Therapeutic by 15.6% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 17,345 shares of the company's stock worth $801,000 after purchasing an additional 2,345 shares in the last quarter. Institutional investors and hedge funds own 62.63% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on TECX. Mizuho lifted their price objective on Tectonic Therapeutic from $51.00 to $85.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. Lifesci Capital started 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. Truist Financial started coverage on Tectonic Therapeutic in a report on Monday, July 21st. They issued a "buy" rating and a $64.00 price target for the company. Raymond James Financial started coverage on Tectonic Therapeutic in a report on Wednesday, June 11th. They issued an "outperform" rating and a $76.00 price target for the company. Finally, Wall Street Zen cut Tectonic Therapeutic from a "hold" rating to a "sell" rating in a report on Saturday, July 26th. One research analyst has rated the stock with a sell rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $80.33.

Tectonic Therapeutic Price Performance

Tectonic Therapeutic stock traded down $1.46 during midday trading on Friday, hitting $20.73. 388,883 shares of the company were exchanged, compared to its average volume of 199,477. The company's fifty day moving average price is $21.75 and its 200-day moving average price is $24.52. The company has a market cap of $387.03 million, a PE ratio of -2.84 and a beta of 3.27. 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 announced its earnings results on Thursday, May 8th. The company reported ($0.93) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.10) by $0.17. On average, analysts expect that Tectonic Therapeutic, Inc. will post -8.31 EPS for the current fiscal 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.