Tectonic Therapeutic (NASDAQ:TECX) Insider Peter Mcnamara Sells 1,650 Shares of Stock

by · The Markets Daily

Tectonic Therapeutic, Inc. (NASDAQ:TECX – Get Free Report) insider Peter Mcnamara sold 1,650 shares of the company’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $25.00, for a total transaction of $41,250.00. Following the completion of the transaction, the insider directly owned 58,832 shares in the company, valued at approximately $1,470,800. The trade was a 2.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Peter Mcnamara also recently made the following trade(s):

  • On Tuesday, March 3rd, Peter Mcnamara sold 1,649 shares of Tectonic Therapeutic stock. The stock was sold at an average price of $22.06, for a total value of $36,376.94.

Tectonic Therapeutic Price Performance

Shares of NASDAQ:TECX traded up $5.82 on Friday, hitting $33.67. The company’s stock had a trading volume of 557,697 shares, compared to its average volume of 406,944. The company has a market capitalization of $632.22 million, a PE ratio of -8.31 and a beta of 3.76. The company has a 50-day simple moving average of $21.48 and a 200 day simple moving average of $19.72. Tectonic Therapeutic, Inc. has a 1 year low of $13.70 and a 1 year high of $34.00.

Tectonic Therapeutic (NASDAQ:TECX – Get Free Report) last issued its quarterly earnings data on Thursday, February 26th. The company reported ($1.03) EPS for the quarter, topping the consensus estimate of ($1.11) by $0.08. On average, equities research analysts expect that Tectonic Therapeutic, Inc. will post -8.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on TECX. Weiss Ratings restated a “sell (d-)” rating on shares of Tectonic Therapeutic in a research report on Thursday, January 22nd. Truist Financial dropped their target price on Tectonic Therapeutic from $64.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. Finally, Lifesci Capital upgraded shares of Tectonic Therapeutic to a “strong-buy” rating in a research report on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Tectonic Therapeutic currently has a consensus rating of “Moderate Buy” and an average price target of $81.50.

Check Out Our Latest Report on Tectonic Therapeutic

Hedge Funds Weigh In On Tectonic Therapeutic

Large investors have recently bought and sold shares of the stock. Virtus Investment Advisers LLC boosted its stake in shares of Tectonic Therapeutic by 18.3% during the second quarter. Virtus Investment Advisers LLC now owns 4,190 shares of the company’s stock valued at $83,000 after purchasing an additional 649 shares during the period. China Universal Asset Management Co. Ltd. boosted its position in Tectonic Therapeutic by 26.7% during the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 3,750 shares of the company’s stock valued at $75,000 after buying an additional 791 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Tectonic Therapeutic by 3.1% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 35,708 shares of the company’s stock worth $710,000 after acquiring an additional 1,063 shares during the last quarter. AlphaQuest LLC increased its position in shares of Tectonic Therapeutic by 919.4% in the second quarter. AlphaQuest LLC now owns 2,365 shares of the company’s stock valued at $47,000 after acquiring an additional 2,133 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey bought a new position in shares of Tectonic Therapeutic during the second quarter valued at about $52,000. 62.63% of the stock is owned by hedge funds and other institutional investors.

Tectonic Therapeutic Company Profile

(Get Free Report)

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.

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