BML Capital Management LLC Sells 254,295 Shares of Tectonic Therapeutic (NASDAQ:TECX)

BML Capital Management LLC trimmed its holdings in shares of Tectonic Therapeutic (NASDAQ:TECX - Free Report) by 54.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 211,752 shares of the company's stock after selling 254,295 shares during the quarter. Tectonic Therapeutic makes up approximately 3.8% of BML Capital Management LLC's investment portfolio, making the stock its 7th largest position. BML Capital Management LLC owned approximately 1.44% of Tectonic Therapeutic worth $6,416,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of TECX. Nordwand Advisors LLC acquired a new stake in shares of Tectonic Therapeutic during the 3rd quarter worth about $45,000. Affinity Asset Advisors LLC bought a new stake in Tectonic Therapeutic in the second quarter worth $961,000. Renaissance Technologies LLC purchased a new position in Tectonic Therapeutic in the second quarter valued at about $1,466,000. Acadian Asset Management LLC acquired a new position in Tectonic Therapeutic in the second quarter valued at approximately $1,804,000. Finally, Atlas Venture Life Science Advisors LLC acquired a new position in shares of Tectonic Therapeutic in the 2nd quarter valued at $6,233,000. Institutional investors and hedge funds own 62.63% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on TECX shares. Leerink Partnrs upgraded shares of Tectonic Therapeutic to a "strong-buy" rating in a research note on Wednesday, July 24th. Leerink Partners boosted their price target on Tectonic Therapeutic from $49.00 to $69.00 and gave the stock an "outperform" rating in a report on Monday. Finally, Wells Fargo & Company lifted their price target on Tectonic Therapeutic from $55.00 to $79.00 and gave the company an "overweight" rating in a research report on Tuesday. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $74.67.

Insider Activity at Tectonic Therapeutic

In other Tectonic Therapeutic news, Director Timothy A. Springer acquired 50,000 shares of the company's stock in a transaction that occurred on Thursday, September 26th. The stock was bought at an average price of $28.82 per share, for a total transaction of $1,441,000.00. Following the acquisition, the director now directly owns 3,796,764 shares in the company, valued at $109,422,738.48. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Timothy A. Springer bought 50,000 shares of the stock in a transaction on Thursday, September 26th. The shares were purchased at an average price of $28.82 per share, for a total transaction of $1,441,000.00. Following the acquisition, the director now owns 3,796,764 shares in the company, valued at $109,422,738.48. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Timothy A. Springer purchased 300,000 shares of the firm's stock in a transaction that occurred on Tuesday, October 22nd. The stock was purchased at an average price of $33.59 per share, with a total value of $10,077,000.00. Following the completion of 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 0.00 % increase in their position. The disclosure for this purchase can be found here. 9.20% of the stock is owned by corporate insiders.

Tectonic Therapeutic Price Performance

Shares of TECX traded up $1.68 during mid-day trading on Tuesday, hitting $47.75. The company's stock had a trading volume of 185,267 shares, compared to its average volume of 49,058. The company has a market cap of $703.36 million, a PE ratio of -7.74 and a beta of 2.60. The company has a 50-day moving average of $30.59. Tectonic Therapeutic has a fifty-two week low of $12.12 and a fifty-two week high of $47.99.

Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($3.81) earnings per share for the quarter, missing analysts' consensus estimates of ($1.96) by ($1.85). Equities research analysts forecast 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.