Tectonic Therapeutic (NASDAQ:TECX) Insider Peter Mcnamara Sells 6,262 Shares of Stock

Tectonic Therapeutic, Inc. (NASDAQ:TECX) insider Peter Mcnamara sold 6,262 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $30.17, for a total transaction of $188,924.54. Following the completion of the transaction, the insider directly owned 55,285 shares of the company’s stock, valued at $1,667,948.45. This represents a 10.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Peter Mcnamara also recently made the following trade(s):

• On Wednesday, March 4th, Peter Mcnamara sold 1,650 shares of Tectonic Therapeutic stock. The stock was sold at an average price of $25.00, for a total transaction of $41,250.00.
• On Tuesday, March 3rd, Peter Mcnamara sold 1,649 shares of Tectonic Therapeutic stock. The stock was sold at an average price of $22.06, for a total value of $36,376.94.

Tectonic Therapeutic Trading Down 5.2%

Shares of NASDAQ TECX opened at $34.00 on Tuesday. The stock has a market cap of $638.52 million, a P/E ratio of -8.40 and a beta of 3.75. The business’s fifty day simple moving average is $22.05 and its 200-day simple moving average is $19.80. Tectonic Therapeutic, Inc. has a 12-month low of $13.70 and a 12-month high of $36.03.

Tectonic Therapeutic (NASDAQ:TECX) last released its earnings results on Thursday, February 26th. The company reported ($1.03) EPS for the quarter, topping the consensus estimate of ($1.11) by $0.08. On average, equities analysts forecast that Tectonic Therapeutic, Inc. will post -8.31 EPS for the current fiscal year.

Tectonic Therapeutic News Roundup

Here are the key news stories impacting Tectonic Therapeutic this week:

• Positive Sentiment: Analysts maintain a constructive view — the consensus rating is “Moderate Buy” with a hefty consensus target (~$81.50) and multiple buy/strong-buy notes on the stock, which supports upside expectations. Analyst Coverage
• Positive Sentiment: Momentum/relative-strength is strong — coverage highlighting a 96 RS rating signals market leadership and technical strength that can attract momentum funds. RS Rating Article
• Positive Sentiment: Institutional buying has increased — recent filings show large purchases/position increases from Millennium, Goldman Sachs and others, indicating professional investor interest and providing a demand floor. Institutional Activity
• Neutral Sentiment: Leadership transition announced — the company named a new chair and announced an executive transition. Impact depends on the incoming chair’s strategic direction and how management communicates near-term priorities. Leadership Transition
• Negative Sentiment: Insider selling by Marcella Ruddy — sold 10,000 shares at ~$30 (reducing her stake ~12.5%). Large, disclosed insider sales are likely a primary reason for downward pressure on the stock today. Ruddy Sale
• Negative Sentiment: Insider selling by Peter McNamara — sold 6,262 shares at ~$30.17 (about a 10.2% reduction in his position), adding to selling flow and negative sentiment. Mcnamara SEC Filing

Analyst Upgrades and Downgrades

TECX has been the topic of a number of recent research reports. Truist Financial cut their target price on shares of Tectonic Therapeutic from $64.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, January 8th. Lifesci Capital upgraded shares of Tectonic Therapeutic to a “strong-buy” rating in a research note on Thursday, February 5th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Tectonic Therapeutic in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $81.50.

Institutional Trading of Tectonic Therapeutic

Institutional investors have recently bought and sold shares of the business. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Tectonic Therapeutic during the 2nd quarter worth about $52,000. China Universal Asset Management Co. Ltd. raised its position in shares of Tectonic Therapeutic by 26.7% during the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 3,750 shares of the company’s stock worth $75,000 after acquiring an additional 791 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its stake 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 worth $62,000 after purchasing an additional 3,247 shares during the last quarter. Virtus Investment Advisers LLC lifted its stake in Tectonic Therapeutic by 18.3% during the second quarter. Virtus Investment Advisers LLC now owns 4,190 shares of the company’s stock worth $83,000 after purchasing an additional 649 shares during the last quarter. Finally, New York State Common Retirement Fund acquired a new position in Tectonic Therapeutic in the second quarter valued at approximately $99,000. 62.63% of the stock is owned by hedge funds and other institutional investors.

About Tectonic Therapeutic

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.