Key Points
- Insider Marcella Ruddy sold 1,000 shares on April 1 at an average price of $31.05 for $31,050, reducing her stake by 1.43% to 68,747 shares valued at about $2.13 million.
- Analyst and institutional interest remains strong: MarketBeat's consensus is a Moderate Buy with a $81.50 target, and firms like Millennium, Goldman and Jane Street materially increased positions, leaving institutions with 62.63% ownership.
- TECX trades around $30.52 (50-day MA $26.32, 200-day MA $21.23) with a ~$573 million market cap and negative earnings (last quarter EPS -$1.03 beat estimates; FY outlook about -8.31 EPS).
Tectonic Therapeutic, Inc. (NASDAQ:TECX - Get Free Report) insider Marcella Ruddy sold 1,000 shares of the firm's stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $31.05, for a total transaction of $31,050.00. Following the completion of the transaction, the insider directly owned 68,747 shares in the company, valued at $2,134,594.35. This trade represents a 1.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
Tectonic Therapeutic Price Performance
Shares of NASDAQ TECX opened at $30.52 on Friday. The company has a 50-day moving average price of $26.32 and a 200-day moving average price of $21.23. The stock has a market capitalization of $573.17 million, a P/E ratio of -7.54 and a beta of 3.59. Tectonic Therapeutic, Inc. has a 1 year low of $13.70 and a 1 year high of $36.03.
Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) last posted its earnings results on Thursday, February 26th. The company reported ($1.03) earnings per share for the quarter, topping analysts' consensus estimates of ($1.11) by $0.08. As a group, equities research analysts anticipate that Tectonic Therapeutic, Inc. will post -8.31 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several analysts have recently commented on the company. Lifesci Capital raised Tectonic Therapeutic to a "strong-buy" rating in a research note on Thursday, February 5th. Truist Financial cut their target price on Tectonic Therapeutic from $64.00 to $60.00 and set a "buy" rating on the stock in a research report on Thursday, January 8th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Tectonic Therapeutic in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Tectonic Therapeutic presently has a consensus rating of "Moderate Buy" and a consensus target price of $81.50.
Get Our Latest Analysis on TECX
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC grew its position in Tectonic Therapeutic by 726.4% in the 1st quarter. Millennium Management LLC now owns 237,938 shares of the company's stock worth $4,214,000 after purchasing an additional 209,145 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Tectonic Therapeutic by 331.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 104,793 shares of the company's stock worth $1,856,000 after buying an additional 80,483 shares in the last quarter. Jane Street Group LLC lifted its position in shares of Tectonic Therapeutic by 58.7% during the 1st quarter. Jane Street Group LLC now owns 47,145 shares of the company's stock worth $835,000 after buying an additional 17,443 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Tectonic Therapeutic by 242.5% in the 2nd quarter. Geode Capital Management LLC now owns 272,257 shares of the company's stock worth $5,411,000 after buying an additional 192,770 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Tectonic Therapeutic by 483.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,548 shares of the company's stock worth $130,000 after buying an additional 5,426 shares during the last quarter. 62.63% of the stock is currently owned by hedge funds and other institutional investors.
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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