Key Points
- Peter McNamara sold 1,649 shares on March 3 at $22.06 and 1,650 shares on March 4 at $25, leaving him with about 37,482 shares and reducing his stake by roughly 4.21% per the SEC filings.
- TECX stock jumped 20.9% to $33.67 on heavy volume after the company reported Q4 EPS of ($1.03) vs. consensus ($1.11) and analysts maintain a consensus "Moderate Buy" with an average target of $81.50.
Tectonic Therapeutic, Inc. (NASDAQ:TECX - Get Free Report) insider Peter Mcnamara sold 1,649 shares of Tectonic Therapeutic stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $22.06, for a total value of $36,376.94. Following the transaction, the insider owned 37,482 shares in the company, valued at approximately $826,852.92. This represents a 4.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Peter Mcnamara also recently made the following trade(s):
- On Wednesday, March 4th, Peter Mcnamara sold 1,650 shares of Tectonic Therapeutic stock. The stock was sold at an average price of $25.00, for a total value of $41,250.00.
Tectonic Therapeutic Trading Up 20.9%
Shares of NASDAQ TECX traded up $5.82 during mid-day trading on Friday, reaching $33.67. 557,697 shares of the company's stock were exchanged, compared to its average volume of 406,944. Tectonic Therapeutic, Inc. has a twelve month low of $13.70 and a twelve month high of $34.00. The firm has a market capitalization of $632.22 million, a price-to-earnings ratio of -8.31 and a beta of 3.76. The business has a fifty day simple moving average of $21.48 and a 200 day simple moving average of $19.72.
Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) last posted its earnings results on Thursday, February 26th. The company reported ($1.03) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.11) by $0.08. Equities research analysts predict that Tectonic Therapeutic, Inc. will post -8.31 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of equities analysts recently weighed in on TECX shares. Truist Financial reduced their target price on shares of Tectonic Therapeutic from $64.00 to $60.00 and set a "buy" rating for the company in a research note on Thursday, January 8th. Lifesci Capital raised Tectonic Therapeutic to a "strong-buy" rating in a research report on Thursday, February 5th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Tectonic Therapeutic in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $81.50.
Check Out Our Latest Research Report on TECX
Hedge Funds Weigh In On Tectonic Therapeutic
A number of institutional investors have recently added to or reduced their stakes in TECX. Aberdeen Group plc lifted its stake in Tectonic Therapeutic by 220.6% in the fourth quarter. Aberdeen Group plc now owns 1,141,824 shares of the company's stock valued at $23,818,000 after acquiring an additional 785,648 shares during the last quarter. Braidwell LP raised its holdings in shares of Tectonic Therapeutic by 25.9% in the 4th quarter. Braidwell LP now owns 927,524 shares of the company's stock valued at $19,348,000 after purchasing an additional 190,657 shares during the period. Baker BROS. Advisors LP lifted its stake in Tectonic Therapeutic by 803.4% in the 4th quarter. Baker BROS. Advisors LP now owns 903,400 shares of the company's stock valued at $18,845,000 after purchasing an additional 803,400 shares during the last quarter. 5AM Venture Management LLC lifted its stake in Tectonic Therapeutic by 18.6% in the 4th quarter. 5AM Venture Management LLC now owns 606,660 shares of the company's stock valued at $12,655,000 after purchasing an additional 95,000 shares during the last quarter. Finally, Orbimed Advisors LLC bought a new position in Tectonic Therapeutic during the fourth quarter worth about $11,986,000. 62.63% of the stock is currently owned by institutional investors and hedge funds.
Tectonic Therapeutic Company Profile
(
Get Free Report)
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.
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