Tectonic Therapeutic (NASDAQ:TECX) Trading Down 4.5% – Should You Sell?

by · The Markets Daily

Tectonic Therapeutic (NASDAQ:TECX – Get Free Report)’s share price was down 4.5% on Wednesday . The company traded as low as $30.21 and last traded at $30.49. Approximately 15,783 shares traded hands during mid-day trading, a decline of 60% from the average daily volume of 39,786 shares. The stock had previously closed at $31.94.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Leerink Partners started coverage on shares of Tectonic Therapeutic in a research report on Wednesday, July 24th. They set an “outperform” rating and a $49.00 target price for the company. Leerink Partnrs raised Tectonic Therapeutic to a “strong-buy” rating in a report on Wednesday, July 24th. TD Cowen began coverage on Tectonic Therapeutic in a report on Monday, June 24th. They issued a “buy” rating on the stock. Piper Sandler initiated coverage on Tectonic Therapeutic in a research report on Wednesday, June 26th. They set an “overweight” rating and a $76.00 target price on the stock. Finally, Wells Fargo & Company began coverage on Tectonic Therapeutic in a research report on Thursday, August 22nd. They issued an “overweight” rating and a $55.00 price target for the company. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Tectonic Therapeutic currently has a consensus rating of “Buy” and an average target price of $60.00.

Check Out Our Latest Research Report on TECX

Tectonic Therapeutic Stock Down 0.6 %

The firm has a 50 day moving average of $21.02.

Tectonic Therapeutic (NASDAQ:TECX – Get Free Report) last announced its quarterly earnings data on Wednesday, August 14th. The company reported ($3.81) EPS for the quarter, missing the consensus estimate of ($1.96) by ($1.85). As a group, analysts forecast that Tectonic Therapeutic will post -4.91 earnings per share for the current year.

Insider Buying and Selling at Tectonic Therapeutic

In other news, Director Timothy A. Springer bought 50,000 shares of the stock in a transaction on Thursday, September 26th. The shares were purchased at an average cost of $28.82 per share, for a total transaction of $1,441,000.00. Following the completion of the purchase, the director now directly owns 3,796,764 shares in the company, valued at $109,422,738.48. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 9.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tectonic Therapeutic

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TECX. Affinity Asset Advisors LLC bought a new stake in shares of Tectonic Therapeutic in the second quarter valued at approximately $961,000. Renaissance Technologies LLC bought a new stake in Tectonic Therapeutic during the 2nd quarter valued at $1,466,000. Acadian Asset Management LLC purchased a new stake in shares of Tectonic Therapeutic during the second quarter worth $1,804,000. Atlas Venture Life Science Advisors LLC bought a new position in shares of Tectonic Therapeutic in the second quarter worth $6,233,000. Finally, Farallon Capital Management LLC purchased a new position in shares of Tectonic Therapeutic in the second quarter valued at $7,099,000. Institutional investors own 62.63% of the company’s stock.

About Tectonic Therapeutic

(Get Free Report)

Avrobio, Inc is a bio-technology company. It develops step-change cell and gene therapies for the treatment of cancer and rare disease. The company operates primarily in the United States and Canada. Avrobio, Inc is based in MA, United States.

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