ADAR1 Capital Management LLC Has $2.71 Million Stock Position in Tectonic Therapeutic (NASDAQ:TECX)

ADAR1 Capital Management LLC lessened its holdings in shares of Tectonic Therapeutic (NASDAQ:TECX - Free Report) by 53.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 58,708 shares of the company's stock after selling 68,451 shares during the period. ADAR1 Capital Management LLC owned 0.40% of Tectonic Therapeutic worth $2,711,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC boosted its position in shares of Tectonic Therapeutic by 13.2% during the 3rd quarter. FMR LLC now owns 1,220,138 shares of the company's stock valued at $36,970,000 after purchasing an additional 142,600 shares in the last quarter. Geode Capital Management LLC increased its stake in Tectonic Therapeutic by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 77,584 shares of the company's stock valued at $3,584,000 after buying an additional 705 shares during the period. Exome Asset Management LLC raised its holdings in shares of Tectonic Therapeutic by 12.2% during the third quarter. Exome Asset Management LLC now owns 36,344 shares of the company's stock worth $1,101,000 after acquiring an additional 3,955 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Tectonic Therapeutic by 88.1% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,485 shares of the company's stock valued at $669,000 after buying an additional 6,783 shares in the last quarter. Finally, Clarius Group LLC acquired a new position in Tectonic Therapeutic in the fourth quarter worth approximately $468,000. 62.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Wells Fargo & Company dropped their price target on shares of Tectonic Therapeutic from $112.00 to $101.00 and set an "overweight" rating on the stock in a research note on Friday, March 21st. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $77.75.

Insider Transactions at Tectonic Therapeutic

In related news, Director Timothy A. Springer bought 3,718 shares of Tectonic Therapeutic stock in a transaction that occurred on Wednesday, April 9th. The stock was acquired at an average price of $14.76 per share, for a total transaction of $54,877.68. Following the completion of the purchase, the director now owns 4,317,276 shares in the company, valued at approximately $63,722,993.76. This represents a 0.09 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Daniel Lochner purchased 4,617 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were purchased at an average price of $54.14 per share, for a total transaction of $249,964.38. Following the completion of the purchase, the chief financial officer now directly owns 4,617 shares of the company's stock, valued at approximately $249,964.38. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 234,607 shares of company stock worth $8,955,655. Insiders own 9.20% of the company's stock.

Tectonic Therapeutic Stock Down 3.1 %

TECX stock traded down $0.52 during midday trading on Friday, hitting $16.16. 321,640 shares of the company traded hands, compared to its average volume of 172,605. The business has a 50 day simple moving average of $24.50 and a 200-day simple moving average of $36.09. Tectonic Therapeutic has a twelve month low of $13.70 and a twelve month high of $61.07. The stock has a market capitalization of $301.59 million, a price-to-earnings ratio of -2.74 and a beta of 2.87.

Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) last announced its earnings results on Thursday, March 20th. The company reported ($0.84) earnings per share for the quarter, beating the consensus estimate of ($1.39) by $0.55. Equities research analysts forecast that Tectonic Therapeutic will post -8.31 EPS for the current year.

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.