GSA Capital Partners LLP Invests $1.32 Million in Tectonic Therapeutic, Inc. $TECX

GSA Capital Partners LLP acquired a new position in Tectonic Therapeutic, Inc. (NASDAQ:TECX) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 63,276 shares of the company’s stock, valued at approximately $1,320,000. GSA Capital Partners LLP owned approximately 0.34% of Tectonic Therapeutic at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of TECX. Aberdeen Group plc increased its stake in shares of Tectonic Therapeutic by 220.6% in the 4th quarter. Aberdeen Group plc now owns 1,141,824 shares of the company’s stock worth $23,818,000 after purchasing an additional 785,648 shares in the last quarter. Braidwell LP purchased a new stake in shares of Tectonic Therapeutic in the 3rd quarter worth $11,561,000. Millennium Management LLC increased its stake in shares of 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. Kennedy Capital Management LLC purchased a new stake in shares of Tectonic Therapeutic in the 3rd quarter worth $3,276,000. Finally, First Light Asset Management LLC purchased a new stake in shares of Tectonic Therapeutic in the 3rd quarter worth $3,176,000. 62.63% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Tectonic Therapeutic news, insider Marcella K. Ruddy sold 10,000 shares of the stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $30.00, for a total transaction of $300,000.00. Following the completion of the transaction, the insider owned 69,747 shares of the company’s stock, valued at $2,092,410. This represents a 12.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Peter Mcnamara sold 6,262 shares of the stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $30.17, for a total transaction of $188,924.54. Following the transaction, the insider directly owned 55,285 shares of the company’s stock, valued at $1,667,948.45. This trade represents a 10.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 21,626 shares of company stock valued at $629,551 in the last three months. Insiders own 39.80% of the company’s stock.

Wall Street Analyst Weigh In

TECX has been the subject of several analyst reports. Lifesci Capital upgraded Tectonic Therapeutic to a “strong-buy” rating in a research note on Thursday, February 5th. Stifel Nicolaus began coverage on Tectonic Therapeutic in a research note on Monday, April 13th. They issued a “buy” rating and a $75.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tectonic Therapeutic in a report on Tuesday, April 21st. Finally, Wall Street Zen downgraded shares of Tectonic Therapeutic from a “sell” rating to a “strong sell” rating in a report on Saturday, April 18th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.83.

Tectonic Therapeutic Stock Performance

Shares of Tectonic Therapeutic stock opened at $28.84 on Thursday. The company has a market capitalization of $544.18 million, a P/E ratio of -6.47 and a beta of 3.27. The company has a fifty day moving average of $29.74 and a 200 day moving average of $24.00. Tectonic Therapeutic, Inc. has a fifty-two week low of $14.39 and a fifty-two week high of $36.03.

Tectonic Therapeutic (NASDAQ:TECX) last issued its earnings results on Thursday, May 7th. The company reported ($1.34) earnings per share for the quarter, missing the consensus estimate of ($1.16) by ($0.18). Analysts forecast that Tectonic Therapeutic, Inc. will post -5.33 EPS for the current year.

Tectonic Therapeutic Company 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.