Tectonic Therapeutic (NASDAQ:TECX) Sees Unusually-High Trading Volume – What’s Next?

Shares of Tectonic Therapeutic (NASDAQ:TECX) saw unusually-strong trading volume on Wednesday . Approximately 135,323 shares traded hands during trading, an increase of 207% from the previous session’s volume of 44,133 shares.The stock last traded at $41.03 and had previously closed at $40.98.

Analysts Set New Price Targets

TECX has been the subject of a number of research analyst reports. Wells Fargo & Company began coverage on shares of Tectonic Therapeutic in a research report on Thursday, August 22nd. They set an “overweight” rating and a $55.00 target price for the company. Leerink Partnrs upgraded shares of Tectonic Therapeutic to a “strong-buy” rating in a research note on Wednesday, July 24th. Finally, Leerink Partners started coverage on Tectonic Therapeutic in a research report on Wednesday, July 24th. They issued an “outperform” rating and a $49.00 target price for the company. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Tectonic Therapeutic presently has a consensus rating of “Buy” and an average price target of $60.00.

Tectonic Therapeutic Trading Up 0.4 %

The stock has a 50 day simple moving average of $26.14. The firm has a market capitalization of $606.45 million, a P/E ratio of -7.76 and a beta of 2.63.

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

Insider Transactions at Tectonic Therapeutic

In related news, Director Timothy A. Springer purchased 300,000 shares of Tectonic Therapeutic stock in a transaction dated Tuesday, October 22nd. The shares were acquired at an average cost of $33.59 per share, for a total transaction of $10,077,000.00. Following the transaction, the director now directly owns 4,096,764 shares of the company’s stock, valued at approximately $137,610,302.76. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, Director Timothy A. Springer purchased 50,000 shares of Tectonic Therapeutic stock in a transaction dated Thursday, September 26th. The stock was bought at an average price of $28.82 per share, for a total transaction of $1,441,000.00. Following the completion of the acquisition, the director now directly owns 3,796,764 shares of the company’s stock, valued at $109,422,738.48. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Timothy A. Springer acquired 300,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were bought at an average price of $33.59 per share, for a total transaction of $10,077,000.00. Following the completion of the acquisition, the director now owns 4,096,764 shares of the company’s stock, valued at $137,610,302.76. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 9.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tectonic Therapeutic

Large investors have recently added to or reduced their stakes in the company. Affinity Asset Advisors LLC bought a new position in shares of Tectonic Therapeutic during the second quarter worth about $961,000. Renaissance Technologies LLC acquired a new position in Tectonic Therapeutic during the 2nd quarter worth approximately $1,466,000. Acadian Asset Management LLC bought a new position in shares of Tectonic Therapeutic during the 2nd quarter worth approximately $1,804,000. Atlas Venture Life Science Advisors LLC acquired a new stake in shares of Tectonic Therapeutic in the second quarter valued at approximately $6,233,000. Finally, Farallon Capital Management LLC bought a new stake in shares of Tectonic Therapeutic in the second quarter worth $7,099,000. Institutional investors own 62.63% of the company’s stock.

Tectonic Therapeutic Company Profile

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.