BIT Capital GmbH Makes New Investment in Tectonic Therapeutic, Inc. $TECX

BIT Capital GmbH purchased a new position in shares of Tectonic Therapeutic, Inc. (NASDAQ:TECX) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 30,000 shares of the company’s stock, valued at approximately $626,000. BIT Capital GmbH owned about 0.16% of Tectonic Therapeutic at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. First Light Asset Management LLC acquired a new position in shares of Tectonic Therapeutic during the third quarter worth about $3,176,000. Braidwell LP acquired a new position in shares of Tectonic Therapeutic during the third quarter worth about $11,561,000. Aberdeen Group plc acquired a new position in shares of Tectonic Therapeutic during the third quarter worth about $5,588,000. DLD Asset Management LP acquired a new position in shares of Tectonic Therapeutic during the third quarter worth about $235,000. Finally, GSA Capital Partners LLP acquired a new position in shares of Tectonic Therapeutic during the fourth quarter worth about $1,320,000. 62.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Stifel Nicolaus assumed coverage on shares of Tectonic Therapeutic in a research note on Monday, April 13th. They set a “buy” rating and a $75.00 price target on the stock. Raymond James Financial upgraded shares of Tectonic Therapeutic from an “outperform” rating to a “strong-buy” rating and boosted their price target for the stock from $76.00 to $81.00 in a research note on Tuesday, May 26th. Wall Street Zen lowered shares of Tectonic Therapeutic from a “sell” rating to a “strong sell” rating in a research note on Saturday, April 18th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Tectonic Therapeutic in a research note on Tuesday, April 21st. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Tectonic Therapeutic currently has an average rating of “Buy” and a consensus price target of $79.40.

Insider Buying and Selling

In related news, insider Marcella K. Ruddy sold 1,065 shares of the business’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $30.00, for a total transaction of $31,950.00. Following the sale, the insider owned 67,682 shares of the company’s stock, valued at approximately $2,030,460. The trade was a 1.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 39.80% of the company’s stock.

Tectonic Therapeutic Trading Down 0.4%

TECX stock opened at $29.00 on Friday. The company has a market cap of $547.23 million, a P/E ratio of -6.50 and a beta of 3.19. Tectonic Therapeutic, Inc. has a 52 week low of $14.39 and a 52 week high of $36.03. The company’s 50-day moving average price is $29.11 and its 200 day moving average price is $24.89.

Tectonic Therapeutic (NASDAQ:TECX) last released its quarterly earnings data on Thursday, May 7th. The company reported ($1.34) EPS for the quarter, missing analysts’ consensus estimates of ($1.16) by ($0.18). On average, equities research analysts expect that Tectonic Therapeutic, Inc. will post -5.46 earnings per share for the current year.

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.