Invesco Ltd. Makes New $5.92 Million Investment in Tectonic Therapeutic (NASDAQ:TECX)

Invesco Ltd. purchased a new position in Tectonic Therapeutic (NASDAQ:TECX - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 128,178 shares of the company's stock, valued at approximately $5,918,000. Invesco Ltd. owned approximately 0.87% of Tectonic Therapeutic as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Geode Capital Management LLC grew its stake in Tectonic Therapeutic by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 77,584 shares of the company's stock valued at $3,584,000 after acquiring an additional 705 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Tectonic Therapeutic by 5,554.5% during the fourth quarter. JPMorgan Chase & Co. now owns 1,244 shares of the company's stock valued at $57,000 after purchasing an additional 1,222 shares in the last quarter. Commonwealth Equity Services LLC bought a new stake in shares of Tectonic Therapeutic in the fourth quarter worth about $231,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Tectonic Therapeutic by 88.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,485 shares of the company's stock worth $669,000 after buying an additional 6,783 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Tectonic Therapeutic during the fourth quarter valued at approximately $228,000. 62.63% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Daniel Lochner purchased 4,617 shares of the business's stock in a transaction that occurred on Wednesday, February 5th. The stock was purchased at an average price of $54.14 per share, with a total value of $249,964.38. Following the completion of the acquisition, the chief financial officer now owns 4,617 shares in the company, valued at $249,964.38. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Timothy A. Springer acquired 129,294 shares of Tectonic Therapeutic stock in a transaction that occurred on Wednesday, February 5th. The shares were bought at an average price of $54.14 per share, for a total transaction of $6,999,977.16. Following the transaction, the director now owns 4,226,058 shares of the company's stock, valued at $228,798,780.12. This represents a 3.16 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 234,607 shares of company stock valued at $8,955,655 in the last 90 days. 9.20% of the stock is owned by insiders.

Tectonic Therapeutic Stock Down 1.0 %

Shares of Tectonic Therapeutic stock traded down $0.20 on Thursday, reaching $20.66. 40,492 shares of the stock were exchanged, compared to its average volume of 173,556. The business has a 50 day moving average price of $20.42 and a two-hundred day moving average price of $35.02. The firm has a market capitalization of $385.74 million, a price-to-earnings ratio of -3.51 and a beta of 2.87. Tectonic Therapeutic has a twelve month low of $13.70 and a twelve month high of $61.07.

Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) last announced its quarterly earnings results on Thursday, March 20th. The company reported ($0.84) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.39) by $0.55. Research analysts forecast that Tectonic Therapeutic will post -8.31 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Mizuho began coverage on shares of Tectonic Therapeutic in a research report on Monday, April 21st. They issued an "outperform" rating and a $51.00 price target on the stock. Wells Fargo & Company decreased their target price on shares of Tectonic Therapeutic from $112.00 to $101.00 and set an "overweight" rating on the stock in a research report on Friday, March 21st. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $72.40.

Tectonic Therapeutic Company 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.