BML Capital Management LLC Sells 254,295 Shares of Tectonic Therapeutic (NASDAQ:TECX)

BML Capital Management LLC reduced its stake in shares of Tectonic Therapeutic (NASDAQ:TECX) by 54.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 211,752 shares of the company’s stock after selling 254,295 shares during the quarter. Tectonic Therapeutic accounts for approximately 3.8% of BML Capital Management LLC’s portfolio, making the stock its 7th largest holding. BML Capital Management LLC’s holdings in Tectonic Therapeutic were worth $6,416,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TECX. Vida Ventures Advisors LLC purchased a new stake in shares of Tectonic Therapeutic in the third quarter valued at about $31,169,000. Farallon Capital Management LLC purchased a new stake in shares of Tectonic Therapeutic in the second quarter valued at about $7,099,000. Atlas Venture Life Science Advisors LLC purchased a new position in shares of Tectonic Therapeutic during the second quarter valued at approximately $6,233,000. Acadian Asset Management LLC purchased a new position in shares of Tectonic Therapeutic during the second quarter valued at approximately $1,804,000. Finally, Renaissance Technologies LLC purchased a new position in shares of Tectonic Therapeutic during the second quarter valued at approximately $1,466,000. 62.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Leerink Partnrs raised shares of Tectonic Therapeutic to a “strong-buy” rating in a research note on Wednesday, July 24th. Wells Fargo & Company upped their price objective on shares of Tectonic Therapeutic from $55.00 to $79.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Leerink Partners increased their price target on shares of Tectonic Therapeutic from $49.00 to $69.00 and gave the stock an “outperform” rating in a research note on Monday. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $74.67.

Tectonic Therapeutic Trading Down 2.5 %

NASDAQ:TECX traded down $1.17 during trading hours on Tuesday, reaching $44.90. 17,967 shares of the company were exchanged, compared to its average volume of 48,294. Tectonic Therapeutic has a 52-week low of $12.12 and a 52-week high of $47.99. The company’s 50 day moving average is $30.59. The stock has a market cap of $661.38 million, a price-to-earnings ratio of -7.86 and a beta of 2.60.

Tectonic Therapeutic (NASDAQ:TECX) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($3.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.96) by ($1.85). On average, analysts forecast that Tectonic Therapeutic will post -4.91 EPS for the current fiscal year.

Insider Transactions at Tectonic Therapeutic

In other Tectonic Therapeutic news, Director Timothy A. Springer acquired 300,000 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The stock was bought at an average price of $33.59 per share, with a total value of $10,077,000.00. Following the completion of the transaction, the director now directly owns 4,096,764 shares of the company’s stock, valued at approximately $137,610,302.76. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Timothy A. Springer purchased 300,000 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The stock was acquired at an average cost of $33.59 per share, with a total value of $10,077,000.00. Following the acquisition, the director now owns 4,096,764 shares in the company, valued at approximately $137,610,302.76. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Timothy A. Springer purchased 50,000 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were purchased at an average cost of $28.82 per share, with a total value of $1,441,000.00. Following the completion of the acquisition, the director now owns 3,796,764 shares in the company, valued at approximately $109,422,738.48. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 9.20% of the company’s stock.

About Tectonic Therapeutic

Avrobio, Inc is a bio-technology company. It develops step-change cell and gene therapies for the treatment of cancer and rare disease. The company operates primarily in the United States and Canada. Avrobio, Inc is based in MA, United States.