Tectonic Therapeutic (NASDAQ:TECX) Insider Peter Mcnamara Sells 1,649 Shares
by Jessica Moore · The Cerbat GemTectonic Therapeutic, Inc. (NASDAQ:TECX – Get Free Report) insider Peter Mcnamara sold 1,649 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $22.06, for a total value of $36,376.94. Following the completion of the sale, the insider owned 37,482 shares in the company, valued at $826,852.92. This represents a 4.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Peter Mcnamara also recently made the following trade(s):
- On Wednesday, March 4th, Peter Mcnamara sold 1,650 shares of Tectonic Therapeutic stock. The stock was sold at an average price of $25.00, for a total transaction of $41,250.00.
Tectonic Therapeutic Trading Up 1.6%
Shares of NASDAQ TECX traded up $0.44 during midday trading on Thursday, hitting $27.85. The company’s stock had a trading volume of 471,882 shares, compared to its average volume of 405,128. The stock has a fifty day moving average price of $21.36 and a 200 day moving average price of $19.66. Tectonic Therapeutic, Inc. has a one year low of $13.70 and a one year high of $28.98. The firm has a market capitalization of $523.02 million, a price-to-earnings ratio of -6.88 and a beta of 3.76.
Tectonic Therapeutic (NASDAQ:TECX – Get Free Report) last released 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 predict that Tectonic Therapeutic, Inc. will post -8.31 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several research analysts have commented on TECX shares. Weiss Ratings restated a “sell (d-)” rating on shares of Tectonic Therapeutic in a research note on Thursday, January 22nd. Lifesci Capital raised shares of Tectonic Therapeutic to a “strong-buy” rating in a research note on Thursday, February 5th. Finally, Truist Financial reduced 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. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $81.50.
Check Out Our Latest Stock Report on TECX
Hedge Funds Weigh In On Tectonic Therapeutic
Large investors have recently modified their holdings of the company. AlphaQuest LLC lifted its position in Tectonic Therapeutic by 919.4% in the 2nd quarter. AlphaQuest LLC now owns 2,365 shares of the company’s stock worth $47,000 after buying an additional 2,133 shares during the last quarter. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Tectonic Therapeutic during the second quarter worth approximately $52,000. China Universal Asset Management Co. Ltd. boosted its stake 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 in the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in shares of Tectonic Therapeutic by 451.6% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 3,966 shares of the company’s stock valued at $62,000 after purchasing an additional 3,247 shares in the last quarter. Finally, Virtus Investment Advisers LLC grew its holdings in shares of Tectonic Therapeutic by 18.3% during the 2nd 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 last quarter. 62.63% of the stock is owned by hedge funds and other institutional investors.
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.