Monaco Asset Management SAM Purchases New Shares in Tectonic Therapeutic, Inc. $TECX

Monaco Asset Management SAM acquired a new position in Tectonic Therapeutic, Inc. (NASDAQ:TECX) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,500 shares of the company’s stock, valued at approximately $209,000. Monaco Asset Management SAM owned approximately 0.06% of Tectonic Therapeutic as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Millennium Management LLC increased its position in Tectonic Therapeutic by 726.4% in the 1st quarter. Millennium Management LLC now owns 237,938 shares of the company’s stock valued at $4,214,000 after acquiring an additional 209,145 shares in the last quarter. Woodline Partners LP increased its holdings in shares of Tectonic Therapeutic by 132.3% in the first quarter. Woodline Partners LP now owns 302,215 shares of the company’s stock valued at $5,352,000 after purchasing an additional 172,106 shares in the last quarter. Ally Bridge Group NY LLC bought a new position in Tectonic Therapeutic in the 1st quarter worth approximately $2,342,000. Baker BROS. Advisors LP acquired a new position in Tectonic Therapeutic during the 1st quarter worth $1,771,000. Finally, Adage Capital Partners GP L.L.C. bought a new position in Tectonic Therapeutic in the 1st quarter valued at $1,771,000. 62.63% of the stock is currently owned by institutional investors and hedge funds.

Tectonic Therapeutic Stock Up 1.7%

Shares of NASDAQ TECX opened at $19.32 on Friday. Tectonic Therapeutic, Inc. has a twelve month low of $13.70 and a twelve month high of $61.07. The stock has a market cap of $361.48 million, a price-to-earnings ratio of -5.01 and a beta of 3.23. The company’s fifty day moving average is $16.89 and its 200-day moving average is $20.22.

Tectonic Therapeutic (NASDAQ:TECX) last posted its earnings results on Thursday, November 6th. The company reported ($1.02) earnings per share for the quarter, topping the consensus estimate of ($1.05) by $0.03. On average, research analysts anticipate that Tectonic Therapeutic, Inc. will post -8.31 EPS for the current fiscal year.

Analysts Set New Price Targets

TECX has been the topic of several recent research reports. Oppenheimer assumed coverage on Tectonic Therapeutic in a report on Wednesday, September 3rd. They issued an “outperform” rating and a $80.00 price target on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tectonic Therapeutic in a research report on Wednesday, October 8th. Truist Financial initiated coverage on shares of Tectonic Therapeutic in a report on Monday, July 21st. They issued a “buy” rating and a $64.00 price objective on the stock. Wells Fargo & Company initiated coverage on shares of Tectonic Therapeutic in a report on Monday, October 20th. They set an “overweight” rating and a $101.00 target price for the company. Finally, Wall Street Zen cut shares of Tectonic Therapeutic from a “hold” rating to a “sell” rating in a research report on Saturday, July 26th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Tectonic Therapeutic presently has an average rating of “Moderate Buy” and an average price target of $80.29.

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.