Acuta Capital Partners LLC Invests $415,000 in Tectonic Therapeutic (NASDAQ:TECX)

Acuta Capital Partners LLC bought a new position in Tectonic Therapeutic (NASDAQ:TECX - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 13,700 shares of the company's stock, valued at approximately $415,000. Acuta Capital Partners LLC owned approximately 0.09% of Tectonic Therapeutic as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Nordwand Advisors LLC purchased a new position in shares of Tectonic Therapeutic in the 3rd quarter worth about $45,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Tectonic Therapeutic during the third quarter valued at approximately $233,000. Affinity Asset Advisors LLC purchased a new position in shares of Tectonic Therapeutic during the second quarter worth approximately $961,000. Renaissance Technologies LLC purchased a new position in Tectonic Therapeutic in the 2nd quarter worth approximately $1,466,000. Finally, Acadian Asset Management LLC bought a new stake in Tectonic Therapeutic in the second quarter valued at approximately $1,804,000. Institutional investors own 62.63% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on TECX shares. Wells Fargo & Company lifted their target price on shares of Tectonic Therapeutic from $55.00 to $79.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 12th. Raymond James started coverage on Tectonic Therapeutic in a research note on Wednesday, November 20th. They issued an "outperform" rating and a $65.00 target price on the stock. Finally, Leerink Partners upped their price target on Tectonic Therapeutic from $49.00 to $69.00 and gave the company an "outperform" rating in a research report on Monday, November 11th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Tectonic Therapeutic has a consensus rating of "Buy" and a consensus target price of $72.25.

Tectonic Therapeutic Stock Up 2.8 %

Shares of TECX traded up $1.32 during trading hours on Thursday, hitting $49.16. The company had a trading volume of 76,919 shares, compared to its average volume of 52,357. Tectonic Therapeutic has a 52-week low of $12.12 and a 52-week high of $50.53. The company's fifty day moving average is $37.01. The stock has a market capitalization of $725.11 million, a PE ratio of -8.35 and a beta of 2.60.

Insiders Place Their Bets

In other Tectonic Therapeutic news, Director Timothy A. Springer bought 50,000 shares of the business's stock in a transaction on Thursday, September 26th. The shares were acquired at an average cost of $28.82 per share, for a total transaction of $1,441,000.00. Following the purchase, the director now owns 3,796,764 shares in the company, valued at approximately $109,422,738.48. This trade represents a 1.33 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 9.20% of the company's stock.

Tectonic Therapeutic 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.