First Light Asset Management LLC Acquires 152,983 Shares of Tectonic Therapeutic, Inc. $TECX

First Light Asset Management LLC grew its holdings in shares of Tectonic Therapeutic, Inc. (NASDAQ:TECX) by 23.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 800,726 shares of the company’s stock after buying an additional 152,983 shares during the quarter. Tectonic Therapeutic accounts for approximately 1.7% of First Light Asset Management LLC’s holdings, making the stock its 21st biggest holding. First Light Asset Management LLC’s holdings in Tectonic Therapeutic were worth $27,525,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Braidwell LP grew its position in Tectonic Therapeutic by 25.9% in the fourth quarter. Braidwell LP now owns 927,524 shares of the company’s stock worth $19,348,000 after acquiring an additional 190,657 shares in the last quarter. Baker BROS. Advisors LP raised its position in Tectonic Therapeutic by 803.4% during the fourth quarter. Baker BROS. Advisors LP now owns 903,400 shares of the company’s stock valued at $18,845,000 after purchasing an additional 803,400 shares during the period. BlackRock Inc. purchased a new stake in Tectonic Therapeutic during the second quarter valued at approximately $29,652,000. 5AM Venture Management LLC lifted its stake in shares of Tectonic Therapeutic by 18.6% in the 4th quarter. 5AM Venture Management LLC now owns 606,660 shares of the company’s stock valued at $12,655,000 after purchasing an additional 95,000 shares during the last quarter. Finally, Orbimed Advisors LLC bought a new stake in shares of Tectonic Therapeutic in the 4th quarter valued at approximately $11,986,000. Institutional investors own 62.63% of the company’s stock.

Analyst Ratings Changes

TECX has been the topic of several recent research reports. Zacks Research upgraded Tectonic Therapeutic from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 18th. Raymond James Financial raised shares of Tectonic Therapeutic from an “outperform” rating to a “strong-buy” rating and increased their target price for the company from $76.00 to $81.00 in a research note on Tuesday, May 26th. Wall Street Zen raised shares of Tectonic Therapeutic from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tectonic Therapeutic in a report on Friday, July 17th. Finally, Oppenheimer reissued an “outperform” rating on shares of Tectonic Therapeutic in a research report on Tuesday, September 1st. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.25.

Tectonic Therapeutic Stock Up 0.3%

TECX opened at $30.48 on Thursday. The business has a fifty day moving average of $32.94 and a 200 day moving average of $30.58. Tectonic Therapeutic, Inc. has a 52-week low of $14.39 and a 52-week high of $39.53. The stock has a market cap of $595.88 million, a P/E ratio of -6.67 and a beta of 3.31.

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