Tectonic Therapeutic (NASDAQ:TECX) Director Timothy A. Springer Purchases 129,294 Shares

Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) Director Timothy A. Springer acquired 129,294 shares of the company's stock in a transaction on Wednesday, February 5th. The shares were purchased at an average cost of $54.14 per share, for a total transaction of $6,999,977.16. Following the acquisition, the director now owns 4,226,058 shares of the company's stock, valued at approximately $228,798,780.12. The trade was a 3.16 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Tectonic Therapeutic Price Performance

TECX traded down $2.90 during trading on Tuesday, hitting $31.87. The company's stock had a trading volume of 423,380 shares, compared to its average volume of 473,444. The firm's 50 day moving average price is $44.94 and its 200-day moving average price is $34.76. The stock has a market cap of $470.08 million, a PE ratio of -5.41 and a beta of 2.62. Tectonic Therapeutic has a twelve month low of $13.80 and a twelve month high of $61.07.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Raymond James assumed coverage on Tectonic Therapeutic in a report on Wednesday, November 20th. They set an "outperform" rating and a $65.00 price target on the stock. Leerink Partners lifted their price target 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. Finally, Wells Fargo & Company lifted their price target on shares of Tectonic Therapeutic from $79.00 to $112.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Five 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.com, the company has a consensus rating of "Buy" and an average target price of $80.50.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TECX. Nordwand Advisors LLC purchased a new stake in shares of Tectonic Therapeutic during the 3rd quarter valued at $45,000. China Universal Asset Management Co. Ltd. purchased a new position in Tectonic Therapeutic in the 4th quarter valued at about $144,000. Charles Schwab Investment Management Inc. purchased a new position in Tectonic Therapeutic in the 4th quarter valued at about $218,000. Raymond James Financial Inc. purchased a new position in Tectonic Therapeutic in the 4th quarter valued at about $228,000. Finally, Commonwealth Equity Services LLC acquired a new stake in shares of Tectonic Therapeutic in the 4th quarter valued at about $231,000. 62.63% of the stock is currently owned by institutional investors and hedge funds.

About Tectonic Therapeutic

Tectonic Therapeutic, Inc engages in discovery and development of therapeutic proteins & antibodies. The company was founded by Timothy A. Springer and Andrew Kruse in 2019 and is headquartered in Watertown, MA.