Timothy A. Springer Buys 50,000 Shares of Tectonic Therapeutic (NASDAQ:TECX) Stock

Tectonic Therapeutic (NASDAQ:TECX) Director Timothy A. Springer acquired 50,000 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The stock was bought at an average cost of $28.82 per share, for a total transaction of $1,441,000.00. Following the completion of the purchase, the director now directly owns 3,796,764 shares in the company, valued at approximately $109,422,738.48. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Tectonic Therapeutic Price Performance

Shares of TECX stock opened at $30.60 on Friday. Tectonic Therapeutic has a 12 month low of $12.12 and a 12 month high of $31.66. The company has a market cap of $450.74 million, a P/E ratio of 44.35 and a beta of 2.59. The stock has a 50 day moving average price of $18.60.

Tectonic Therapeutic (NASDAQ:TECX) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($3.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.96) by ($1.85). On average, equities analysts expect that Tectonic Therapeutic will post -4.91 EPS for the current year.

Institutional Trading of Tectonic Therapeutic

Institutional investors have recently made changes to their positions in the business. Affinity Asset Advisors LLC acquired a new position in Tectonic Therapeutic in the second quarter worth about $961,000. Renaissance Technologies LLC bought a new stake in shares of Tectonic Therapeutic in the 2nd quarter valued at approximately $1,466,000. Acadian Asset Management LLC acquired a new position in shares of Tectonic Therapeutic in the 2nd quarter worth approximately $1,804,000. Atlas Venture Life Science Advisors LLC bought a new position in shares of Tectonic Therapeutic during the 2nd quarter worth approximately $6,233,000. Finally, Farallon Capital Management LLC bought a new stake in shares of Tectonic Therapeutic in the 2nd quarter worth about $7,099,000. 62.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TECX has been the topic of a number of recent analyst reports. TD Cowen began coverage on shares of Tectonic Therapeutic in a research report on Monday, June 24th. They issued a “buy” rating on the stock. Leerink Partners began coverage on shares of Tectonic Therapeutic in a research report on Wednesday, July 24th. They set an “outperform” rating and a $49.00 target price for the company. Leerink Partnrs raised Tectonic Therapeutic to a “strong-buy” rating in a research report on Wednesday, July 24th. Piper Sandler assumed coverage on shares of Tectonic Therapeutic in a research note on Wednesday, June 26th. They issued an “overweight” rating and a $76.00 price objective on the stock. Finally, Wells Fargo & Company began coverage on shares of Tectonic Therapeutic in a research note on Thursday, August 22nd. They set an “overweight” rating and a $55.00 target price for the company. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Tectonic Therapeutic currently has an average rating of “Buy” and a consensus target price of $60.00.

About Tectonic Therapeutic

Avrobio, Inc is a bio-technology company. It develops step-change cell and gene therapies for the treatment of cancer and rare disease. The company operates primarily in the United States and Canada. Avrobio, Inc is based in MA, United States.