683 Capital Management LLC Invests $648,000 in Tectonic Therapeutic (NASDAQ:TECX)

683 Capital Management LLC bought a new stake in shares of Tectonic Therapeutic (NASDAQ:TECX) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 14,027 shares of the company’s stock, valued at approximately $648,000. 683 Capital Management LLC owned 0.10% of Tectonic Therapeutic as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TECX. JPMorgan Chase & Co. increased its position in shares of Tectonic Therapeutic by 5,554.5% during the fourth quarter. JPMorgan Chase & Co. now owns 1,244 shares of the company’s stock valued at $57,000 after buying an additional 1,222 shares during the period. Virtus ETF Advisers LLC bought a new position in Tectonic Therapeutic in the fourth quarter worth $71,000. China Universal Asset Management Co. Ltd. bought a new stake in shares of Tectonic Therapeutic during the 4th quarter valued at $144,000. Charles Schwab Investment Management Inc. purchased a new stake in Tectonic Therapeutic in the fourth quarter worth about $218,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Tectonic Therapeutic during the fourth quarter valued at approximately $228,000. Hedge funds and other institutional investors own 62.63% of the company’s stock.

Insider Buying and Selling at Tectonic Therapeutic

In related news, Director Timothy A. Springer purchased 3,718 shares of the firm’s stock in a transaction dated Wednesday, April 9th. The stock was purchased at an average price of $14.76 per share, with a total value of $54,877.68. Following the completion of the purchase, the director now owns 4,317,276 shares of the company’s stock, valued at approximately $63,722,993.76. The trade was a 0.09 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Daniel Lochner purchased 4,617 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were purchased at an average price of $54.14 per share, for a total transaction of $249,964.38. Following the purchase, the chief financial officer now owns 4,617 shares of the company’s stock, valued at approximately $249,964.38. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders acquired 234,607 shares of company stock worth $8,955,655 over the last 90 days. Company insiders own 9.20% of the company’s stock.

Wall Street Analyst Weigh In

TECX has been the topic of several research analyst reports. Mizuho assumed coverage on shares of Tectonic Therapeutic in a research note on Monday, April 21st. They set an “outperform” rating and a $51.00 target price on the stock. Wells Fargo & Company cut their target price on shares of Tectonic Therapeutic from $112.00 to $101.00 and set an “overweight” rating for the company in a research report on Friday, March 21st. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Tectonic Therapeutic currently has an average rating of “Buy” and an average price target of $72.40.

Tectonic Therapeutic Stock Performance

NASDAQ TECX opened at $19.66 on Friday. Tectonic Therapeutic has a one year low of $13.70 and a one year high of $61.07. The company has a market capitalization of $367.07 million, a P/E ratio of -3.34 and a beta of 2.87. The stock has a 50 day moving average price of $20.27 and a 200-day moving average price of $34.92.

Tectonic Therapeutic (NASDAQ:TECX) last released its quarterly earnings results on Thursday, March 20th. The company reported ($0.84) earnings per share for the quarter, beating the consensus estimate of ($1.39) by $0.55. As a group, equities analysts predict that Tectonic Therapeutic will post -8.31 EPS for the current fiscal 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.