Vanguard Group Inc. Cuts Position in Tectonic Therapeutic (NASDAQ:TECX)

Vanguard Group Inc. lessened its holdings in shares of Tectonic Therapeutic (NASDAQ:TECX - Free Report) by 18.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 361,048 shares of the company's stock after selling 81,766 shares during the period. Vanguard Group Inc. owned 2.45% of Tectonic Therapeutic worth $16,670,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its stake in 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. Exome Asset Management LLC boosted its holdings in shares of Tectonic Therapeutic by 12.2% in the 3rd quarter. Exome Asset Management LLC now owns 36,344 shares of the company's stock valued at $1,101,000 after buying an additional 3,955 shares in the last quarter. Clarius Group LLC purchased a new position in shares of Tectonic Therapeutic in the 4th quarter valued at $468,000. China Universal Asset Management Co. Ltd. acquired a new stake in Tectonic Therapeutic during the 4th quarter worth $144,000. Finally, Charles Schwab Investment Management Inc. purchased a new stake in Tectonic Therapeutic in the fourth quarter valued at $218,000. Hedge funds and other institutional investors own 62.63% of the company's stock.

Insider Buying and Selling

In other Tectonic Therapeutic news, Director Timothy A. Springer bought 3,718 shares of the company's stock in a transaction on Wednesday, April 9th. The shares were bought at an average price of $14.76 per share, for a total transaction of $54,877.68. Following the transaction, the director now owns 4,317,276 shares of the company's stock, valued at approximately $63,722,993.76. This trade represents a 0.09 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Daniel Lochner bought 4,617 shares of the business's stock in a transaction dated Wednesday, February 5th. The shares were acquired at an average cost of $54.14 per share, with a total value of $249,964.38. Following the completion of the purchase, the chief financial officer now 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 purchased a total of 234,607 shares of company stock valued at $8,955,655 over the last three months. 9.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on TECX shares. Mizuho began coverage on Tectonic Therapeutic in a research report on Monday. They set an "outperform" rating and a $51.00 target price on the stock. Wells Fargo & Company dropped their price target on Tectonic Therapeutic from $112.00 to $101.00 and set an "overweight" rating on the stock in a research note on Friday, March 21st. Six equities research 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, Tectonic Therapeutic currently has an average rating of "Buy" and a consensus target price of $72.40.

Tectonic Therapeutic Price Performance

Shares of NASDAQ:TECX traded up $1.57 on Tuesday, reaching $19.49. The company's stock had a trading volume of 180,658 shares, compared to its average volume of 172,552. Tectonic Therapeutic has a 52-week low of $13.70 and a 52-week high of $61.07. The stock has a market capitalization of $363.74 million, a P/E ratio of -3.31 and a beta of 2.87. The stock's 50-day moving average is $21.83 and its two-hundred day moving average is $35.49.

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