Squarepoint Ops LLC Has $4.99 Million Stock Position in Tectonic Therapeutic, Inc. $TECX

Squarepoint Ops LLC reduced its position in shares of Tectonic Therapeutic, Inc. (NASDAQ:TECX) by 11.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 145,028 shares of the company’s stock after selling 19,391 shares during the quarter. Squarepoint Ops LLC’s holdings in Tectonic Therapeutic were worth $4,985,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in Tectonic Therapeutic in the 2nd quarter valued at $29,652,000. GSA Capital Partners LLP bought a new position in shares of Tectonic Therapeutic in the fourth quarter valued at $1,320,000. First Light Asset Management LLC acquired a new position in shares of Tectonic Therapeutic during the first quarter valued at about $20,022,000. 5AM Venture Management LLC acquired a new position in Tectonic Therapeutic during the 2nd quarter valued at about $20,853,938. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Tectonic Therapeutic during the 2nd quarter worth approximately $2,232,000. 62.63% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on TECX shares. Raymond James Financial raised Tectonic Therapeutic from an “outperform” rating to a “strong-buy” rating and increased their price objective for the stock from $76.00 to $81.00 in a research note on Tuesday, May 26th. Wells Fargo & Company cut their target price on Tectonic Therapeutic from $101.00 to $93.00 and set an “overweight” rating on the stock in a research report on Friday, August 7th. Wall Street Zen upgraded shares of Tectonic Therapeutic from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 8th. Oppenheimer reiterated an “outperform” rating on shares of Tectonic Therapeutic in a report on Tuesday, September 1st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Tectonic Therapeutic in a research report on Friday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $77.25.

Tectonic Therapeutic Stock Performance

NASDAQ TECX opened at $29.05 on Friday. The company has a market capitalization of $567.90 million, a PE ratio of -6.36 and a beta of 3.31. Tectonic Therapeutic, Inc. has a 52-week low of $14.39 and a 52-week high of $39.53. The company has a 50-day simple moving average of $32.58 and a 200 day simple moving average of $30.62.

Tectonic Therapeutic (NASDAQ:TECX) last released its earnings results on Thursday, August 6th. The company reported ($1.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.35) by $0.17. As a group, analysts forecast that Tectonic Therapeutic, Inc. will post -5.25 EPS for the current fiscal year.

About Tectonic Therapeutic

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.