5AM Venture Management LLC Acquires 95,000 Shares of Tectonic Therapeutic, Inc. $TECX

5AM Venture Management LLC raised its holdings in shares of Tectonic Therapeutic, Inc. (NASDAQ:TECX) by 18.6% in the 4th quarter, Holdings Channel reports. The firm owned 606,660 shares of the company’s stock after purchasing an additional 95,000 shares during the quarter. Tectonic Therapeutic accounts for 4.0% of 5AM Venture Management LLC’s holdings, making the stock its 11th biggest holding. 5AM Venture Management LLC’s holdings in Tectonic Therapeutic were worth $12,655,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Schonfeld Strategic Advisors LLC purchased a new position in shares of Tectonic Therapeutic during the fourth quarter valued at $816,000. Braidwell LP lifted its holdings in shares of Tectonic Therapeutic by 25.9% during the fourth quarter. Braidwell LP now owns 927,524 shares of the company’s stock worth $19,348,000 after purchasing an additional 190,657 shares during the period. Jump Financial LLC acquired a new stake in shares of Tectonic Therapeutic during the fourth quarter worth about $824,000. Kotler Kevin purchased a new stake in shares of Tectonic Therapeutic in the fourth quarter valued at approximately $1,669,000. Finally, Monimus Capital Management LP increased its position in shares of Tectonic Therapeutic by 11.3% in the fourth quarter. Monimus Capital Management LP now owns 26,594 shares of the company’s stock valued at $555,000 after buying an additional 2,700 shares in the last quarter. 62.63% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TECX has been the subject of a number of recent analyst reports. Wall Street Zen cut Tectonic Therapeutic from a “sell” rating to a “strong sell” rating in a research report on Saturday, April 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tectonic Therapeutic in a research report on Tuesday, April 21st. Stifel Nicolaus started coverage on Tectonic Therapeutic in a research report on Monday, April 13th. They set a “buy” rating and a $75.00 price target for the company. Finally, Raymond James Financial upgraded 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 report on Tuesday, May 26th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $79.40.

Insider Transactions at Tectonic Therapeutic

In related news, insider Marcella K. Ruddy sold 1,065 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $30.00, for a total transaction of $31,950.00. Following the transaction, the insider owned 67,682 shares in the company, valued at $2,030,460. This trade represents a 1.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 39.80% of the stock is owned by corporate insiders.

Tectonic Therapeutic Stock Up 0.2%

Shares of NASDAQ:TECX opened at $30.06 on Thursday. The business has a fifty day moving average of $28.97 and a two-hundred day moving average of $25.47. The stock has a market cap of $567.23 million, a P/E ratio of -6.74 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.

Tectonic Therapeutic (NASDAQ:TECX) last issued its earnings results on Thursday, May 7th. The company reported ($1.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.16) by ($0.18). On average, equities analysts anticipate that Tectonic Therapeutic, Inc. will post -5.46 earnings per share for the current 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.