Daniel Lochner Buys 4,617 Shares of Tectonic Therapeutic (NASDAQ:TECX) Stock

Tectonic Therapeutic (NASDAQ:TECX) CFO Daniel Lochner acquired 4,617 shares of Tectonic Therapeutic stock in a transaction on Wednesday, February 5th. The shares were bought at an average cost of $54.14 per share, with a total value of $249,964.38. Following the completion of the transaction, the chief financial officer now owns 4,617 shares of the company’s stock, valued at approximately $249,964.38. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Tectonic Therapeutic Stock Down 14.4 %

Shares of TECX stock traded down $6.15 during trading hours on Friday, hitting $36.45. 337,569 shares of the company’s stock traded hands, compared to its average volume of 469,099. The stock has a market cap of $537.64 million, a PE ratio of -6.19 and a beta of 2.62. The stock’s 50 day simple moving average is $45.51 and its 200 day simple moving average is $34.25. Tectonic Therapeutic has a 12 month low of $13.80 and a 12 month high of $61.07.

Tectonic Therapeutic (NASDAQ:TECX) last released its quarterly earnings results on Thursday, November 7th. The company reported ($1.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.36). As a group, equities research analysts expect that Tectonic Therapeutic will post -8.31 EPS for the current fiscal year.

Analysts Set New Price Targets

TECX has been the topic of a number of analyst reports. Leerink Partners increased their price target on Tectonic Therapeutic from $49.00 to $69.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Wells Fargo & Company boosted their target price on Tectonic Therapeutic from $79.00 to $112.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, Raymond James assumed coverage on shares of Tectonic Therapeutic in a research note on Wednesday, November 20th. They issued an “outperform” rating and a $65.00 price target on the stock. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Tectonic Therapeutic currently has a consensus rating of “Buy” and an average target price of $80.50.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Nordwand Advisors LLC acquired a new position in shares of Tectonic Therapeutic during the 3rd quarter valued at $45,000. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Tectonic Therapeutic in the 4th quarter valued at about $144,000. Charles Schwab Investment Management Inc. bought a new stake in Tectonic Therapeutic in the 4th quarter valued at about $218,000. Raymond James Financial Inc. acquired a new position in Tectonic Therapeutic during the 4th quarter worth approximately $228,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Tectonic Therapeutic in the third quarter worth approximately $233,000. Institutional investors own 62.63% 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.