Fmr LLC Grows Position in Tectonic Therapeutic (NASDAQ:TECX)

FMR LLC grew its holdings in Tectonic Therapeutic (NASDAQ:TECX - Free Report) by 13.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,220,138 shares of the company's stock after acquiring an additional 142,600 shares during the period. FMR LLC owned 8.28% of Tectonic Therapeutic worth $36,970,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Affinity Asset Advisors LLC bought a new position in Tectonic Therapeutic in the second quarter worth approximately $961,000. Farallon Capital Management LLC bought a new position in Tectonic Therapeutic in the second quarter worth approximately $7,099,000. Vida Ventures Advisors LLC bought a new position in Tectonic Therapeutic in the third quarter worth approximately $31,169,000. Renaissance Technologies LLC bought a new position in Tectonic Therapeutic in the second quarter worth approximately $1,466,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Tectonic Therapeutic during the 3rd quarter valued at $233,000. 62.63% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Tectonic Therapeutic

In other Tectonic Therapeutic news, Director Timothy A. Springer acquired 300,000 shares of the company's stock in a transaction on Tuesday, October 22nd. The stock was acquired at an average cost of $33.59 per share, with a total value of $10,077,000.00. Following the purchase, the director now directly owns 4,096,764 shares of the company's stock, valued at approximately $137,610,302.76. This represents a 7.90 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 9.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Raymond James assumed coverage on shares of Tectonic Therapeutic in a research report on Wednesday, November 20th. They set an "outperform" rating and a $65.00 price objective on the stock. Wells Fargo & Company raised their price objective on shares of Tectonic Therapeutic from $55.00 to $79.00 and gave the company an "overweight" rating in a research report on Tuesday, November 12th. Finally, Leerink Partners raised their price objective on shares of Tectonic Therapeutic from $49.00 to $69.00 and gave the company an "outperform" rating in a research report on Monday, November 11th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $72.25.

Tectonic Therapeutic Stock Performance

NASDAQ TECX traded down $1.86 on Monday, reaching $49.61. The company had a trading volume of 95,227 shares, compared to its average volume of 53,254. The stock's 50 day moving average is $40.63. Tectonic Therapeutic has a 12 month low of $12.12 and a 12 month high of $53.34.

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.