Tectonic Therapeutic (NASDAQ:TECX) Shares Sold by ADAR1 Capital Management LLC

ADAR1 Capital Management LLC trimmed its holdings in Tectonic Therapeutic (NASDAQ:TECX) by 53.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 58,708 shares of the company’s stock after selling 68,451 shares during the quarter. ADAR1 Capital Management LLC owned approximately 0.40% of Tectonic Therapeutic worth $2,711,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. FMR LLC lifted its stake in shares of Tectonic Therapeutic by 13.2% during the 3rd quarter. FMR LLC now owns 1,220,138 shares of the company’s stock worth $36,970,000 after purchasing an additional 142,600 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Tectonic Therapeutic by 147.7% in the 3rd quarter. Geode Capital Management LLC now owns 76,879 shares of the company’s stock valued at $2,331,000 after purchasing an additional 45,846 shares during the last quarter. Clarius Group LLC purchased a new position in shares of Tectonic Therapeutic in the 4th quarter worth $468,000. 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 acquiring an additional 6,783 shares during the period. Finally, Commonwealth Equity Services LLC acquired a new position in shares of Tectonic Therapeutic in the 4th quarter valued at about $231,000. Institutional investors and hedge funds own 62.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company dropped their target price on shares of Tectonic Therapeutic from $112.00 to $101.00 and set an “overweight” rating for the company in a research report on Friday, March 21st. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Tectonic Therapeutic has an average rating of “Buy” and a consensus target price of $77.75.

Insider Transactions at Tectonic Therapeutic

In other news, CFO Daniel Lochner purchased 4,617 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The stock was acquired at an average cost of $54.14 per share, for a total transaction of $249,964.38. Following the completion of the purchase, 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 can be accessed through the SEC website. Also, Director Timothy A. Springer bought 129,294 shares of the business’s stock in a transaction on Wednesday, February 5th. The stock was acquired at an average cost 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 of the company’s stock, valued at $228,798,780.12. The trade was a 3.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 9.20% of the company’s stock.

Tectonic Therapeutic Price Performance

Shares of NASDAQ TECX opened at $15.62 on Monday. The business has a 50-day moving average of $28.25 and a 200-day moving average of $36.62. The company has a market capitalization of $291.52 million, a price-to-earnings ratio of -2.65 and a beta of 2.87. Tectonic Therapeutic has a 1-year low of $15.00 and a 1-year high of $61.07.

Tectonic Therapeutic (NASDAQ:TECX) last announced its earnings results on Thursday, March 20th. The company reported ($0.84) earnings per share for the quarter, beating the consensus estimate of ($1.39) by $0.55. Research analysts expect that Tectonic Therapeutic will post -8.31 EPS for the current fiscal year.

Tectonic Therapeutic 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.