Daniel Lochner Buys 6,000 Shares of Tectonic Therapeutic (NASDAQ:TECX) Stock

Tectonic Therapeutic, Inc. (NASDAQ:TECX) CFO Daniel Lochner purchased 6,000 shares of the stock in a transaction on Tuesday, February 10th. The stock was acquired at an average cost of $21.61 per share, with a total value of $129,660.00. Following the acquisition, the chief financial officer owned 32,044 shares of the company’s stock, valued at approximately $692,470.84. This represents a 23.04% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Tectonic Therapeutic Stock Up 4.6%

Shares of TECX traded up $0.96 during mid-day trading on Wednesday, hitting $22.01. 1,360,094 shares of the company traded hands, compared to its average volume of 428,158. Tectonic Therapeutic, Inc. has a 1-year low of $13.70 and a 1-year high of $36.11. The company has a market capitalization of $412.03 million, a PE ratio of -5.70 and a beta of 3.71. The business has a 50 day moving average of $20.48 and a 200 day moving average of $19.62.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on TECX shares. Wells Fargo & Company started coverage on shares of Tectonic Therapeutic in a report on Monday, October 20th. They issued an “overweight” rating and a $101.00 price target for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Tectonic Therapeutic in a research report on Thursday, January 22nd. Lifesci Capital upgraded Tectonic Therapeutic to a “strong-buy” rating in a research note on Thursday, February 5th. Finally, Truist Financial dropped their price target on Tectonic Therapeutic from $64.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, January 8th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Tectonic Therapeutic has an average rating of “Moderate Buy” and an average target price of $81.50.

Institutional Trading of Tectonic Therapeutic

Hedge funds have recently modified their holdings of the stock. 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 buying an additional 2,133 shares in the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new position in Tectonic Therapeutic during the second quarter worth $52,000. China Universal Asset Management Co. Ltd. lifted its holdings in Tectonic Therapeutic by 26.7% during the second 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 lifted its holdings in Tectonic Therapeutic by 451.6% during the third 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 position in shares of Tectonic Therapeutic by 18.3% in 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. Hedge funds and other institutional investors own 62.63% of the company’s stock.

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.