Tectonic Therapeutic (NASDAQ:TECX) Director Acquires $10,077,000.00 in Stock

Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) Director Timothy A. Springer bought 300,000 shares of the business's stock in a transaction on Tuesday, October 22nd. The stock was bought at an average cost of $33.59 per share, with a total value of $10,077,000.00. Following the transaction, the director now owns 4,096,764 shares in the company, valued at $137,610,302.76. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link.

Tectonic Therapeutic Stock Up 5.5 %

Shares of TECX stock traded up $1.89 during mid-day trading on Thursday, reaching $36.40. 81,908 shares of the company's stock traded hands, compared to its average volume of 42,518. Tectonic Therapeutic has a 12 month low of $12.12 and a 12 month high of $37.99. The firm's 50 day moving average price is $24.38. The stock has a market cap of $1.63 billion, a price-to-earnings ratio of 51.17 and a beta of 2.63.

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

Analyst Upgrades and Downgrades

TECX has been the subject of a number of research analyst reports. Piper Sandler initiated coverage on shares of Tectonic Therapeutic in a research report on Wednesday, June 26th. They issued an "overweight" rating and a $76.00 target price for the company. Wells Fargo & Company initiated coverage on shares of Tectonic Therapeutic in a research report on Thursday, August 22nd. They issued an "overweight" rating and a $55.00 target price for the company. Leerink Partnrs raised shares of Tectonic Therapeutic to a "strong-buy" rating in a research report on Wednesday, July 24th. Finally, Leerink Partners initiated coverage on shares of 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 investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $60.00.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Vida Ventures Advisors LLC purchased a new position in shares of Tectonic Therapeutic during the 3rd quarter valued at $31,169,000. Affinity Asset Advisors LLC purchased a new position in shares of Tectonic Therapeutic during the 2nd quarter valued at $961,000. Farallon Capital Management LLC purchased a new position in shares of Tectonic Therapeutic during the 2nd quarter valued at $7,099,000. Renaissance Technologies LLC purchased a new position in shares of Tectonic Therapeutic during the 2nd quarter valued at $1,466,000. Finally, Atlas Venture Life Science Advisors LLC purchased a new position in shares of Tectonic Therapeutic during the 2nd quarter valued at $6,233,000. Hedge funds and other 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.

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