Tectonic Therapeutic, Inc. $TECX Holdings Boosted by Baker BROS. Advisors LP

Baker BROS. Advisors LP boosted its position in shares of Tectonic Therapeutic, Inc. (NASDAQ:TECX) by 803.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 903,400 shares of the company’s stock after purchasing an additional 803,400 shares during the period. Baker BROS. Advisors LP’s holdings in Tectonic Therapeutic were worth $18,845,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd grew its position in Tectonic Therapeutic by 451.6% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 3,966 shares of the company’s stock worth $62,000 after purchasing an additional 3,247 shares in the last quarter. New York State Common Retirement Fund purchased a new position in Tectonic Therapeutic during the 2nd quarter worth approximately $99,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Tectonic Therapeutic during the 2nd quarter worth approximately $119,000. Los Angeles Capital Management LLC purchased a new position in Tectonic Therapeutic during the 4th quarter worth approximately $134,000. Finally, AlphaCentric Advisors LLC purchased a new position in Tectonic Therapeutic during the 4th quarter worth approximately $135,000. 62.63% of the stock is currently owned by hedge funds and other institutional investors.

Tectonic Therapeutic Trading Up 0.2%

TECX stock opened at $30.06 on Thursday. Tectonic Therapeutic, Inc. has a 1 year low of $14.39 and a 1 year high of $36.03. The company has a fifty day simple moving average of $28.97 and a 200 day simple moving average of $25.47. The firm has a market cap of $567.23 million, a PE ratio of -6.74 and a beta of 3.19.

Tectonic Therapeutic (NASDAQ:TECX) last released its quarterly earnings data on Thursday, May 7th. The company reported ($1.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.16) by ($0.18). As a group, analysts forecast that Tectonic Therapeutic, Inc. will post -5.46 EPS for the current fiscal year.

Insider Activity

In related news, insider Marcella K. Ruddy sold 1,065 shares of Tectonic Therapeutic stock in a transaction on Monday, May 4th. The shares were sold at an average price of $30.00, for a total value of $31,950.00. Following the completion of the sale, the insider owned 67,682 shares of the company’s stock, valued at approximately $2,030,460. The trade was a 1.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 39.80% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Raymond James Financial upgraded shares of Tectonic Therapeutic from an “outperform” rating to a “strong-buy” rating and boosted their price target for the company from $76.00 to $81.00 in a report on Tuesday, May 26th. Stifel Nicolaus assumed coverage on shares of Tectonic Therapeutic in a report on Monday, April 13th. They set a “buy” rating and a $75.00 price target on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Tectonic Therapeutic in a report on Tuesday, April 21st. Finally, Wall Street Zen cut shares of Tectonic Therapeutic from a “sell” rating to a “strong sell” rating in a report on Saturday, April 18th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $79.40.

Tectonic Therapeutic Profile

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.