Tectonic Therapeutic (NASDAQ:TECX) Trading Down 3.2% - Should You Sell?

Tectonic Therapeutic (NASDAQ:TECX - Get Free Report)'s share price fell 3.2% during trading on Tuesday . The stock traded as low as $48.50 and last traded at $48.99. 39,501 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 477,400 shares. The stock had previously closed at $50.61.

Analyst Ratings Changes

TECX has been the topic of several research reports. Wells Fargo & Company boosted their price target on Tectonic Therapeutic from $79.00 to $112.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Leerink Partners increased their price objective on Tectonic Therapeutic from $49.00 to $69.00 and gave the company an "outperform" rating in a report on Monday, November 11th. Finally, Raymond James started coverage on Tectonic Therapeutic in a report on Wednesday, November 20th. They set an "outperform" rating and a $65.00 target price on the stock. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $80.50.

Tectonic Therapeutic Stock Performance

The stock's 50 day moving average price is $45.25 and its 200 day moving average price is $34.51. The company has a market capitalization of $537.75 million, a P/E ratio of -6.19 and a beta of 2.62.

Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($1.20) earnings per share for the quarter, missing the consensus estimate of ($0.84) by ($0.36). On average, analysts expect that Tectonic Therapeutic will post -8.31 earnings per share for the current fiscal year.

Insider Transactions at Tectonic Therapeutic

In related news, Director Timothy A. Springer purchased 129,294 shares of the business's stock in a transaction on Wednesday, February 5th. The stock was acquired at an average price of $54.14 per share, for a total transaction of $6,999,977.16. Following the purchase, the director now owns 4,226,058 shares of the company's stock, valued at approximately $228,798,780.12. This trade represents a 3.16 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Daniel Lochner acquired 4,617 shares of the firm's stock in a transaction on Wednesday, February 5th. The shares were bought at an average cost of $54.14 per share, with a total value of $249,964.38. Following the completion of the acquisition, the chief financial officer now directly owns 4,617 shares in the company, valued at approximately $249,964.38. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 9.20% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TECX. FMR LLC raised its position in Tectonic Therapeutic by 13.2% in the 3rd quarter. FMR LLC now owns 1,220,138 shares of the company's stock valued at $36,970,000 after buying an additional 142,600 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Tectonic Therapeutic by 147.7% in the third quarter. Geode Capital Management LLC now owns 76,879 shares of the company's stock valued at $2,331,000 after purchasing an additional 45,846 shares during the last quarter. Walleye Capital LLC lifted its position in shares of Tectonic Therapeutic by 204.2% during the third quarter. Walleye Capital LLC now owns 72,962 shares of the company's stock valued at $2,211,000 after purchasing an additional 48,978 shares in the last quarter. Clarius Group LLC bought a new stake in Tectonic Therapeutic in the 4th quarter worth about $468,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Tectonic Therapeutic during the 3rd quarter worth approximately $233,000. Institutional investors own 62.63% of the company's stock.

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.