Affinity Asset Advisors LLC Makes New Investment in Tectonic Therapeutic (NASDAQ:TECX)

Affinity Asset Advisors LLC purchased a new stake in Tectonic Therapeutic (NASDAQ:TECX - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 58,331 shares of the company's stock, valued at approximately $961,000. Affinity Asset Advisors LLC owned 0.13% of Tectonic Therapeutic at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Renaissance Technologies LLC bought a new position in Tectonic Therapeutic in the 2nd quarter worth approximately $1,466,000. Acadian Asset Management LLC acquired a new position in Tectonic Therapeutic during the 2nd quarter worth $1,804,000. Atlas Venture Life Science Advisors LLC bought a new position in shares of Tectonic Therapeutic in the second quarter worth $6,233,000. Finally, Farallon Capital Management LLC bought a new position in shares of Tectonic Therapeutic in the second quarter worth $7,099,000. Institutional investors own 62.63% of the company's stock.

Analyst Ratings Changes

TECX has been the topic of a number of recent analyst reports. Leerink Partnrs upgraded shares of Tectonic Therapeutic to a "strong-buy" rating in a research note on Wednesday, July 24th. TD Cowen initiated coverage on shares of Tectonic Therapeutic in a research report on Monday, June 24th. They set a "buy" rating on the stock. Leerink Partners assumed coverage on shares of Tectonic Therapeutic in a research note on Wednesday, July 24th. They issued an "outperform" rating and a $49.00 price target for the company. 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 price objective on the stock. Finally, Piper Sandler started coverage on Tectonic Therapeutic in a research report on Wednesday, June 26th. They issued an "overweight" rating and a $76.00 target price for the company. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $60.00.

Tectonic Therapeutic Trading Up 21.3 %

NASDAQ TECX traded up $5.16 on Wednesday, reaching $29.40. The company's stock had a trading volume of 406,619 shares, compared to its average volume of 33,183. Tectonic Therapeutic has a twelve month low of $12.12 and a twelve month high of $29.90. The business has a 50 day moving average price of $18.08. The company has a market capitalization of $433.06 million, a PE ratio of 42.61 and a beta of 2.59.

Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) last released its earnings results on Wednesday, August 14th. The company reported ($3.81) EPS for the quarter, missing the consensus estimate of ($1.96) by ($1.85). As a group, sell-side analysts anticipate that Tectonic Therapeutic will post -4.91 EPS for the current fiscal year.

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.