Barclays PLC Purchases 14,533 Shares of Tectonic Therapeutic (NASDAQ:TECX)

Barclays PLC grew its holdings in shares of Tectonic Therapeutic (NASDAQ:TECX - Free Report) by 1,008.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,974 shares of the company's stock after buying an additional 14,533 shares during the period. Barclays PLC owned 0.11% of Tectonic Therapeutic worth $737,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TECX. Geode Capital Management LLC increased its holdings in shares of Tectonic Therapeutic by 147.7% in the third quarter. Geode Capital Management LLC now owns 76,879 shares of the company's stock valued at $2,331,000 after buying an additional 45,846 shares in the last quarter. Clarius Group LLC bought a new position in shares of Tectonic Therapeutic in the fourth quarter valued at $468,000. China Universal Asset Management Co. Ltd. bought a new position in shares of Tectonic Therapeutic in the fourth quarter valued at $144,000. Charles Schwab Investment Management Inc. bought a new position in shares of Tectonic Therapeutic in the fourth quarter valued at $218,000. Finally, Raymond James Financial Inc. bought a new position in shares of Tectonic Therapeutic in the fourth quarter valued at $228,000. Institutional investors own 62.63% of the company's stock.

Insider Activity

In related news, Director Timothy A. Springer bought 9,478 shares of Tectonic Therapeutic stock in a transaction that occurred on Friday, April 11th. The stock was purchased at an average cost of $16.31 per share, for a total transaction of $154,586.18. Following the acquisition, the director now owns 4,334,846 shares in the company, valued at $70,701,338.26. This trade represents a 0.22% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have purchased a total of 100,696 shares of company stock worth $1,705,714 in the last ninety days. Corporate insiders own 38.00% of the company's stock.

Tectonic Therapeutic Stock Up 6.7%

Shares of Tectonic Therapeutic stock traded up $1.32 on Monday, hitting $21.08. 5,606 shares of the company traded hands, compared to its average volume of 174,348. The company has a 50-day moving average price of $19.69 and a 200 day moving average price of $34.25. Tectonic Therapeutic has a 12-month low of $13.70 and a 12-month high of $61.07. The company has a market cap of $393.51 million, a PE ratio of -3.58 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) EPS for the quarter, beating the consensus estimate of ($1.10) by $0.17. Equities research analysts anticipate that Tectonic Therapeutic will post -8.31 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Wells Fargo & Company dropped their price target on Tectonic Therapeutic from $112.00 to $101.00 and set an "overweight" rating on the stock in a report on Friday, March 21st. Mizuho initiated coverage on shares of Tectonic Therapeutic in a research note on Monday, April 21st. They set an "outperform" rating and a $51.00 target price on the stock. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Tectonic Therapeutic presently has an average rating of "Buy" and an average price target 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.