Aldebaran Capital LLC Reduces Position in Tectonic Therapeutic (NASDAQ:TECX)

Aldebaran Capital LLC decreased its position in Tectonic Therapeutic (NASDAQ:TECX) by 1.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,207 shares of the company’s stock after selling 784 shares during the period. Tectonic Therapeutic makes up about 1.8% of Aldebaran Capital LLC’s portfolio, making the stock its 15th biggest holding. Aldebaran Capital LLC owned about 0.28% of Tectonic Therapeutic worth $1,903,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in Tectonic Therapeutic by 13.2% in the third quarter. FMR LLC now owns 1,220,138 shares of the company’s stock valued at $36,970,000 after acquiring an additional 142,600 shares during the period. Geode Capital Management LLC lifted its stake in shares of Tectonic Therapeutic by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 77,584 shares of the company’s stock valued at $3,584,000 after purchasing an additional 705 shares during the period. Exome Asset Management LLC boosted its holdings in Tectonic Therapeutic by 12.2% during the third quarter. Exome Asset Management LLC now owns 36,344 shares of the company’s stock worth $1,101,000 after buying an additional 3,955 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Tectonic Therapeutic by 88.1% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,485 shares of the company’s stock valued at $669,000 after buying an additional 6,783 shares during the period. Finally, Clarius Group LLC purchased a new position in Tectonic Therapeutic in the fourth quarter valued at $468,000. Institutional investors and hedge funds own 62.63% of the company’s stock.

Analyst Ratings Changes

Separately, Wells Fargo & Company lowered their target price on shares of Tectonic Therapeutic from $112.00 to $101.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Tectonic Therapeutic presently has an average rating of “Buy” and an average target price of $77.75.

Tectonic Therapeutic Stock Performance

Tectonic Therapeutic stock opened at $16.67 on Friday. The company’s fifty day moving average price is $28.87 and its 200 day moving average price is $36.39. The stock has a market capitalization of $311.11 million, a P/E ratio of -2.83 and a beta of 2.71. Tectonic Therapeutic has a 1 year low of $15.00 and a 1 year high of $61.07.

Tectonic Therapeutic (NASDAQ:TECX) last released its earnings results on Thursday, March 20th. The company reported ($0.84) EPS for the quarter, topping analysts’ consensus estimates of ($1.39) by $0.55. Sell-side analysts predict that Tectonic Therapeutic will post -8.31 EPS for the current year.

Insider Buying and Selling at Tectonic Therapeutic

In other news, CFO Daniel Lochner acquired 4,617 shares of Tectonic Therapeutic stock in a transaction that occurred on Wednesday, February 5th. The stock was purchased at an average cost of $54.14 per share, with a total value of $249,964.38. Following the purchase, the chief financial officer now owns 4,617 shares in the company, valued at $249,964.38. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Timothy A. Springer acquired 129,294 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was purchased at an average price of $54.14 per share, for a total transaction of $6,999,977.16. Following the acquisition, the director now directly owns 4,226,058 shares in the company, valued at $228,798,780.12. This represents a 3.16 % increase in their position. The disclosure for this purchase can be found here. Insiders own 9.20% of the company’s stock.

About Tectonic Therapeutic

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.