Marcella Ruddy Sells 1,000 Shares of Tectonic Therapeutic (NASDAQ:TECX) Stock
by Michael Walen · The Markets DailyTectonic Therapeutic, Inc. (NASDAQ:TECX – Get Free Report) insider Marcella Ruddy sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $31.05, for a total value of $31,050.00. Following the completion of the sale, the insider directly owned 68,747 shares in the company, valued at approximately $2,134,594.35. The trade was a 1.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.
Tectonic Therapeutic Price Performance
TECX stock opened at $30.52 on Friday. Tectonic Therapeutic, Inc. has a 52 week low of $13.70 and a 52 week high of $36.03. The firm has a 50-day simple moving average of $26.32 and a 200-day simple moving average of $21.26. The stock has a market capitalization of $573.17 million, a P/E ratio of -7.54 and a beta of 3.59.
Tectonic Therapeutic (NASDAQ:TECX – Get Free Report) last issued its quarterly earnings results on Thursday, February 26th. The company reported ($1.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.11) by $0.08. On average, analysts expect that Tectonic Therapeutic, Inc. will post -8.31 earnings per share for the current year.
Institutional Trading of Tectonic Therapeutic
Several hedge funds have recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. increased its position in shares of Tectonic Therapeutic by 26.7% in the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 3,750 shares of the company’s stock valued at $75,000 after purchasing an additional 791 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in Tectonic Therapeutic by 451.6% during the third quarter. Caitong International Asset Management Co. Ltd now owns 3,966 shares of the company’s stock worth $62,000 after acquiring an additional 3,247 shares during the period. New York State Common Retirement Fund acquired a new position in Tectonic Therapeutic during the second quarter worth about $99,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Tectonic Therapeutic in the second quarter valued at $119,000. Finally, Los Angeles Capital Management LLC purchased a new position in shares of Tectonic Therapeutic during the 4th quarter worth approximately $134,000. Institutional investors and hedge funds own 62.63% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on TECX shares. Lifesci Capital raised Tectonic Therapeutic to a “strong-buy” rating in a research note on Thursday, February 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Tectonic Therapeutic in a research report on Thursday, January 22nd. Finally, Truist Financial lowered their price target on Tectonic Therapeutic from $64.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, January 8th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Tectonic Therapeutic presently has a consensus rating of “Moderate Buy” and an average target price of $81.50.
Read Our Latest Analysis on TECX
Tectonic Therapeutic Company 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.