Insider Selling: Tectonic Therapeutic (NASDAQ:TECX) Insider Sells $12,349.44 in Stock

Tectonic Therapeutic, Inc. (NASDAQ:TECX) insider Peter Mcnamara sold 536 shares of the firm’s stock in a transaction dated Wednesday, September 30th. The stock was sold at an average price of $23.04, for a total transaction of $12,349.44. Following the completion of the transaction, the insider directly owned 54,305 shares in the company, valued at $1,251,187.20. This represents a 0.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Peter Mcnamara also recently made the following trade(s):

• On Tuesday, August 25th, Peter Mcnamara sold 43 shares of Tectonic Therapeutic stock. The shares were sold at an average price of $36.52, for a total value of $1,570.36.
• On Wednesday, August 12th, Peter Mcnamara sold 43 shares of Tectonic Therapeutic stock. The stock was sold at an average price of $35.00, for a total value of $1,505.00.

Tectonic Therapeutic Stock Performance

Shares of NASDAQ TECX opened at $22.54 on Monday. The company has a market cap of $440.66 million, a price-to-earnings ratio of -4.93 and a beta of 3.28. Tectonic Therapeutic, Inc. has a 12-month low of $14.60 and a 12-month high of $39.53. The stock’s 50 day simple moving average is $30.21 and its 200 day simple moving average is $30.33.

Tectonic Therapeutic (NASDAQ:TECX) last released its quarterly earnings data on Thursday, August 6th. The company reported ($1.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.35) by $0.17. As a group, equities analysts forecast that Tectonic Therapeutic, Inc. will post -5.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in Tectonic Therapeutic during the second quarter worth approximately $29,652,000. Baker BROS. Advisors LP boosted its stake in Tectonic Therapeutic by 803.4% during the fourth quarter. Baker BROS. Advisors LP now owns 903,400 shares of the company’s stock valued at $18,845,000 after buying an additional 803,400 shares in the last quarter. First Light Asset Management LLC acquired a new position in Tectonic Therapeutic during the first quarter worth about $20,022,000. 5AM Venture Management LLC bought a new stake in Tectonic Therapeutic in the second quarter worth about $20,853,938. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Tectonic Therapeutic in the 2nd quarter valued at about $2,232,000. 62.63% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on TECX. Zacks Research raised shares of Tectonic Therapeutic from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 18th. TD Cowen restated a “buy” rating on shares of Tectonic Therapeutic in a research note on Wednesday. Wall Street Zen cut Tectonic Therapeutic from a “sell” rating to a “strong sell” rating in a report on Saturday, September 19th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tectonic Therapeutic in a research report on Friday, July 17th. Finally, Wells Fargo & Company decreased their price objective on Tectonic Therapeutic from $101.00 to $93.00 and set an “overweight” rating for the company in a report on Friday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $77.80.

Tectonic Therapeutic Company Profile

Tectonic Therapeutic, Inc (NASDAQ: TECX) is a clinical-stage biotechnology company developing biologic medicines that target G protein-coupled receptors (GPCRs). These receptors play important roles in numerous biological processes and are established targets for a range of therapeutic treatments, but many remain difficult to address with conventional drug-discovery approaches.

The company uses its proprietary GEODe platform to identify and develop antibodies and other biologic molecules designed to modulate GPCR activity.